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Wheeler REIT offers preferred stock

Wheeler Real EstateInvestment Trust Inc. is offering $50.0 million of its 9.00% seriesB convertible preferred stock.

Cumulative dividends will be paid quarterly in arrears, accordingto a preliminary prospectus.

The company plans to use the net proceeds for general corporatepurposes, including repayment or redemption of debt, redemption of preferred equity,capital expenditures, and working capital.