Item 8.01. Other Events.
As previously disclosed, on November
22, 2022, Wheeler Real Estate Investment Trust, Inc. (the “Company”) commenced an offer to exchange, upon the terms
and subject to the conditions set forth in a prospectus/consent solicitation filed with the Securities and Exchange Commission (the “Prospectus/Consent
Solicitation”), any and all validly tendered, not validly withdrawn and validly accepted outstanding shares of our Series D
Cumulative Convertible Preferred Stock (the “Series D Preferred Stock”) for 6.00% Subordinated Notes due 2027 (the
“Exchange Notes” and such transaction, the “Exchange Offer”), to be newly issued by the Company.
Concurrently with and as an
integral part of the Exchange Offer, the Company is also soliciting consents (the “Consent Solicitation”) from holders
of the Series D Preferred Stock, upon the terms and subject to the conditions set forth in the Prospectus/Consent Solicitation, to certain
amendments (the “Proposed Amendments”) to the Company’s charter that will modify the terms of the Series D Preferred
Stock. By validly tendering Series D Preferred Stock into the Exchange Offer, holders will be deemed to have validly delivered a consent
to the Proposed Amendments with respect to such tendered Series D Preferred Stock.
On December 15, 2022, the Company
filed with the Securities and Exchange Commission (the “SEC”) Prospectus Supplement No. 1 (the “Prospectus
Supplement”) to the Prospectus/Consent Solicitation setting forth revisions to the
Proposed Amendments.
The Exchange Offer and related Consent Solicitation expires, as previously
disclosed in the Prospectus/Consent Solicitation, at 11:59 p.m., New York City time,
on December 22, 2022 (the “Expiration Date and Time”), unless extended or earlier terminated by the Company.
Holders of the Series D Preferred Stock may validly withdraw tendered shares of Series D
Preferred Stock and thereby validly revoke their consent to the Proposed Amendments at any time prior to the Expiration Date and Time,
and after the expiration of 40 business days from the commencement of the Exchange Offer and Consent Solicitation if tendered shares of
Series D Preferred Stock have not yet been accepted by the Company for exchange.
No Offer or Solicitation
This Current Report on Form 8-K
is not intended and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation
of any vote or approval, nor shall there be any sale of securities in any jurisdiction or where such sale would be unlawful prior to registration
or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus
meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the “Securities Act”).
Important Cautions Regarding Forward-Looking
Statements
This Current Report on Form 8-K includes forward-looking statements
within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange
Act). Forward-looking statements are typically identified by the use of terms such as “may,” “will,” “should,”
“potential,” “predicts,” “anticipates,” “expects,” “intends,” “plans,”
“believes,” “seeks,” “estimates,” or the negative of such terms and variations of these words and
similar expressions. Statements in this Current Report on Form 8-K regarding the terms and timing of the Exchange Offer and Consent Solicitation
are forward-looking statements.
Forward-looking statements, by their nature, involve estimates, projections,
goals, forecasts and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from
those projected or contemplated by our forward-looking statements due to various factors, including, among others: the ongoing adverse
effect and the ultimate duration of the COVID-19 pandemic, and federal, state, and/or local regulatory guidelines and private business
actions to control it, on the Company’s financial condition, operating results and cash flows, the Company’s tenants and their
customers, the use of and demand for retail space, the real estate market in which the Company operates, the U.S. economy, the global
economy and the financial markets; the level of rental revenue we achieve from our assets and our ability to collect rents; the state
of the U.S. economy generally, or specifically in the Southeast, Mid-Atlantic and Northeast where our properties are geographically concentrated;
consumer spending and confidence trends; tenant bankruptcies; availability, terms and deployment of capital; general volatility of the
capital markets and the market price of our common and preferred stock; the degree and nature of our competition; changes in governmental
regulations, accounting rules, tax rates and similar matters; litigation risks; lease-up risks; increases in the Company’s financing
and other costs as a result of changes in interest rates and other factors, including the discontinuation of the London Interbank Offered
Rate; inability to successfully integrate the acquisition of Cedar Realty Trust, Inc.; inability to complete the Exchange Offer and Consent
Solicitation; changes in our ability to obtain and maintain financing; damage to the Company’s properties from catastrophic weather
and other natural events, and the physical effects of climate change; information technology security breaches; the Company’s ability
and willingness to maintain its qualification as a real estate investment trust in light of economic, market, legal, tax and other considerations;
the impact of e-commerce on our tenants’ business; and inability to generate sufficient cash flows due to market conditions, competition,
uninsured losses, changes in tax or other applicable law; and other factors discussed from time to time in our news releases, public statements
and documents filed by us with the SEC from time to time, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K. These forward-looking statements and such risks, uncertainties and other factors speak only as of the date
of this Current Report on Form 8-K, and we expressly disclaim any obligation or undertaking to update or revise any forward-looking statement
contained herein, to reflect any change in our expectations with regard thereto or any other change in events, conditions or circumstances
on which any such statement is based, except to the extent otherwise required by applicable law.
Additional Information about
the Exchange Offer and Consent Solicitation and Where to Find it
In connection with the Exchange Offer and Consent Solicitation, the
Company filed with the SEC a Registration Statement on Form S-4 on November 1, 2022 (as amended on November 18, 2022) (the “Registration
Statement”). The Registration Statement was declared effective by the SEC on November
21, 2022. The Company filed the Prospectus/Consent Solicitation with the SEC on November 22, 2022. The Company filed the Prospectus
Supplement with the SEC on December 15, 2022. The Company also filed with the SEC a joint statement on Schedule TO/13E-3 (the “Schedule
TO/13E-3”) for the Exchange Offer and Consent Solicitation. The Company commenced mailing the Prospectus/Consent Solicitation
to holders of the Series D Preferred Stock on or about November 22, 2022. The Company intends to file other relevant documents with the
SEC regarding the Exchange Offer and Consent Solicitation. This Form 8-K is not a substitute for the Prospectus/Consent Solicitation,
the Prospectus Supplement, Registration Statement, Schedule TO/13E-3 or any other document that the Company may file with the SEC. INVESTORS
AND STOCKHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, THE SCHEDULE TO/13E-3, THE PROSPECTUS/CONSENT SOLICITATION, THE PROSPECTUS
SUPPLEMENT, AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS,
CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND THE EXCHANGE OFFER AND
CONSENT SOLICITATION. Investors and stockholders are able to obtain free copies of the Registration Statement, the Schedule TO/13E-3,
the Prospectus/Consent Solicitation, the Prospectus Supplement, and all other documents containing important information about the Company
and the Exchange Offer and Consent Solicitation, once such documents are filed with the SEC through the website maintained by the SEC
at www.sec.gov. The Prospectus/Consent Solicitation included in the Registration Statement, the Prospectus Supplement,
and additional copies of the Prospectus/Consent Solicitation and the Prospectus Supplement, will be available for free from the Company.
