Wheeler Real Estate Investment Trust, Inc. Prices Series D Convertible Preferred Stock Follow-On Offering

VIRGINIA BEACH, Va., Jan. 11, 2018 (GLOBE NEWSWIRE) — Wheeler Real Estate Investment Trust, Inc. (Nasdaq:WHLR) (“Wheeler” or the “Company”), a company specializing in owning, acquiring, financing, developing, renovating, leasing and managing income-producing assets, such as community centers, neighborhood centers, strip centers and free-standing retail properties, announced today the pricing of a public offering and sale of 1,303,000 shares of its 8.75% Series D Cumulative Convertible Preferred Stock, liquidation preference of $25.00 per share (the “Series D Preferred Stock”), at a public offering price of $16.50 per share, for total net proceeds of approximately $20,122,520 million after deducting underwriting discounts, commissions, and estimated offering expenses payable by the Company. The Company has granted the underwriters a 30-day option to purchase up to 195,450 additional shares to cover overallotments, if any. The offering is expected to close on or about January 12, 2018, subject to the satisfaction of customary closing conditions.

The Company’s Series D Preferred Stock is listed on the Nasdaq Capital Market under the symbol “WHLRD.” Shares of the Company’s common stock, $0.01 par value per share, also trade on the Nasdaq Capital Market under the symbol “WHLR.”

The Company intends to use the net proceeds from this offering to fund a portion of the acquisition price for a retail shopping center located in Norfolk, Virginia known as JANAF Shopping Yard.

Ladenburg Thalmann & Co. Inc. and BTIG, LLC are serving as joint-book-running managers for the offering.

The offering is being made pursuant to the Company’s shelf registration statement on Form S-3 (Registration No. 333-213294), which was declared effective by the U.S. Securities and Exchange Commission (“SEC”) on September 6, 2016. A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on the SEC’s website located at http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus may also be obtained from: Ladenburg Thalmann & Co. Inc., Attention: Equity Syndicate, 277 Park Avenue, 26th Floor, New York, NY 10172 or by email: [email protected] or BTIG, LLC, Attention: Equity Capital Markets, 825 3^rd Avenue, 6^th Floor, New York, NY 10022 or by email: [email protected]