Wheeler Real Estate Investment Trust, Inc. and Cedar Realty Trust, Inc. Announce Completion of Merger

$CDR
$WHLR
Real Estate Investment Trusts
Real Estate
Real Estate Investment Trusts
Real Estate
Get the next $CDR alert in real time by email

VIRGINIA BEACH, VA / ACCESSWIRE / August 22, 2022 / Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR) ("Wheeler" or the "Company") and Cedar Realty Trust, Inc. (NYSE:CDR) ("Cedar") jointly announced today that they have completed the previously announced merger pursuant to the terms of the Agreement and Plan of Merger, as amended, among the Company, WHLR Merger Sub Inc., WHLR OP Merger Sub LLC, Cedar and Cedar Realty Trust Partnership, L.P., the operating partnership of Cedar. Consummation of the merger represents the final step in Cedar's previously announced strategic process for the sale of Cedar and its assets through a series of related all-cash transactions.

As a result of the merger, Wheeler has acquired all of the outstanding shares of Cedar's common stock, which will no longer be publicly traded on the NYSE. Cedar's outstanding 7.25% Series B Preferred Stock and 6.50% Series C Preferred Stock remain outstanding and will continue to trade on the NYSE. Wheeler's common stock, Series B Convertible Preferred Stock, Series D Cumulative Convertible Preferred Stock and Series L 7.00% Senior Subordinated Convertible Notes due 2031 also remain outstanding and will continue to trade on Nasdaq.

Each outstanding share of common stock of Cedar and outstanding common unit of Cedar OP held by persons other than Cedar immediately prior to the merger were cancelled and converted into the right to receive a cash payment of $9.48 per share or unit. In addition, as previously announced by Cedar, prior to consummation of the merger, Cedar's Board of Directors declared a special dividend on shares of Cedar's outstanding common stock of $19.52 per share, payable to holders of record of Cedar's common stock at the close of business on August 19, 2022. Payment of the special dividend will be made to eligible shareholders on August 26, 2022 and the merger consideration is expected to be payable to eligible shareholders on or about the same date.

Contact

Investor Relations (757) 627-9088
Email: investorrelations@whlr.us

ABOUT WHEELER REAL ESTATE INVESTMENT TRUST, INC.

Headquartered in Virginia Beach, VA, Wheeler Real Estate Investment Trust, Inc. is a fully integrated, self-managed commercial real estate investment trust (REIT) focused on owning and operating income-producing retail properties with a primary focus on grocery-anchored centers. For more information on the Company, please visit www.whlr.us.

SOURCE: Wheeler Real Estate Investment Trust, Inc.



View source version on accesswire.com:
https://www.accesswire.com/713093/Wheeler-Real-Estate-Investment-Trust-Inc-and-Cedar-Realty-Trust-Inc-Announce-Completion-of-Merger

Get the next $CDR alert in real time by email

Chat with this insight

Save time and jump to the most important pieces.

Recent Analyst Ratings for
$CDR
$WHLR

CompanyDatePrice TargetRatingAnalyst
3/8/2022Outperform → Market Perform
Raymond James
8/17/2021$18.00 → $21.00Outperform
Raymond James
More analyst ratings

$CDR
$WHLR
Press Releases

Fastest customizable press release news feed in the world

See more
  • Ortelius Nominates Six Highly Qualified and Independent Candidates for Election to the Board of Brookdale Senior Living Inc.

    Issues Letter to Stockholders to Outline the Case for Meaningful Change at Brookdale Following Years of Underperformance Ortelius' Nominees Bring Extensive Experience in Senior Housing, Real Estate, Operations, Capital Markets, and Turnaround Situations Believes New and Energized Board Will Drive Urgent Change and Unlock Significant Value for Stockholders Ortelius Advisors, L.P. today issued the following open letter to fellow stockholders of Brookdale Senior Living Inc. (NYSE:BKD). The full text of the letter follows: March 5, 2025 Fellow Stockholders, Ortelius Advisors, L.P. ("Ortelius" or "we") owns approximately 1.3% of the outstanding common stock of Brookdale Senior Living Inc.1

    $BKD
    $GMRE
    $NTST
    $OHI
    Hospital/Nursing Management
    Health Care
    Real Estate Investment Trusts
    Real Estate
  • Franklin Street Properties Corp. Appoints Bruce J. Schanzer to Board of Directors and Enters into Cooperation Agreement with Converium Capital Inc. and Erez Asset Management LLC

    Franklin Street Properties Corp. (the "Company" or "FSP") (NYSE:FSP), a real estate investment trust (REIT), announced today that Bruce J. Schanzer will join the Company's Board of Directors (the "Board"), effective November 27, 2024. In addition, effective November 27, 2024, the Board will appoint Mr. Schanzer to serve as a member of the Audit Committee. With the addition of Mr. Schanzer to the Board, effective November 27, 2024, the Board will be comprised of eight directors, seven of whom are independent. George J. Carter, Chairman and Chief Executive Officer, commented, "We welcome Bruce to the Board and appreciate the collaborative engagement we have had with Converium Capital and Er

    $FSP
    $CDR
    Real Estate Investment Trusts
    Real Estate
  • Wheeler Real Estate Investment Trust, Inc. Announces The Release of its Third Quarter 2024 Financial and Operating Results

    VIRGINIA BEACH, VA / ACCESSWIRE / November 7, 2024 / Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR) announced today that it has reported its financial and operating results for the three and nine months ended September 30, 2024 on Form 10-Q. In addition, the Company has posted supplemental information to its website regarding Wheeler Real Estate Investment Trust's financial and operating results for the three and nine months ended September 30, 2024. Both the Form 10-Q and the supplemental information can be accessed by visiting the Investor Relations website at https://ir.whlr.us/.ContactInvestor Relations: (757) 627-9088ABOUT WHEELER REAL ESTATE INVESTMENT TRUST, INC.Headquartere

    $WHLR
    Real Estate Investment Trusts
    Real Estate

$CDR
$WHLR
Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

See more

$CDR
$WHLR
Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

See more

$CDR
$WHLR
Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

See more

$CDR
$WHLR
SEC Filings

See more

$CDR
$WHLR
Leadership Updates

Live Leadership Updates

See more
  • Franklin Street Properties Corp. Appoints Bruce J. Schanzer to Board of Directors and Enters into Cooperation Agreement with Converium Capital Inc. and Erez Asset Management LLC

    Franklin Street Properties Corp. (the "Company" or "FSP") (NYSE:FSP), a real estate investment trust (REIT), announced today that Bruce J. Schanzer will join the Company's Board of Directors (the "Board"), effective November 27, 2024. In addition, effective November 27, 2024, the Board will appoint Mr. Schanzer to serve as a member of the Audit Committee. With the addition of Mr. Schanzer to the Board, effective November 27, 2024, the Board will be comprised of eight directors, seven of whom are independent. George J. Carter, Chairman and Chief Executive Officer, commented, "We welcome Bruce to the Board and appreciate the collaborative engagement we have had with Converium Capital and Er

    $FSP
    $CDR
    Real Estate Investment Trusts
    Real Estate
  • Mithaq Announces Nominees for Election to the Board of Directors of Aimia

    TORONTO, May 30, 2024 /CNW/ - Mithaq Capital SPC ("Mithaq"), the largest shareholder of Aimia Inc. (TSX:AIM) ("Aimia"), today announced its slate of six directors for election to Aimia's board of directors (the "Board") at the annual meeting of shareholders to be held on June 26, 2024 (the "Meeting"). Mithaq is taking action because of its ongoing concerns with the strategic direction and corporate governance practices of Aimia's leadership, which continues to engage in entrenching, self-interested behaviour and the pursuit of a strategy that has caused significant destruction of shareholder value. Mithaq has ownership of, or control or direction over, a total of 26,893,588 common shares of

    $PLCE
    $CDR
    Clothing/Shoe/Accessory Stores
    Consumer Discretionary
    Real Estate Investment Trusts
    Real Estate
  • RLJ Lodging Trust Appoints Robin Zeigler to Board of Trustees

    RLJ Lodging Trust (the "Company") (NYSE:RLJ) today announced the appointment of Robin Zeigler, a real estate executive with over 25 years of experience in the industry, to the Company's Board of Trustees (the "Board"). Ms. Zeigler's appointment as a new independent member of the Board is effective immediately, and she will join the Board's Audit Committee and Nominating and Corporate Governance Committee. Ms. Zeigler will stand for election as a Board-recommended nominee at the 2022 Annual Meeting of Shareholders. "On behalf of the Trustees and the RLJ management team, we are thrilled to welcome Robin to our Board," commented Leslie D. Hale, President and Chief Executive Officer. "Robin ha

    $CDR
    $FRT
    $RLJ
    Real Estate Investment Trusts
    Real Estate

$CDR
$WHLR
Financials

Live finance-specific insights

See more
  • Ortelius Nominates Six Highly Qualified and Independent Candidates for Election to the Board of Brookdale Senior Living Inc.

    Issues Letter to Stockholders to Outline the Case for Meaningful Change at Brookdale Following Years of Underperformance Ortelius' Nominees Bring Extensive Experience in Senior Housing, Real Estate, Operations, Capital Markets, and Turnaround Situations Believes New and Energized Board Will Drive Urgent Change and Unlock Significant Value for Stockholders Ortelius Advisors, L.P. today issued the following open letter to fellow stockholders of Brookdale Senior Living Inc. (NYSE:BKD). The full text of the letter follows: March 5, 2025 Fellow Stockholders, Ortelius Advisors, L.P. ("Ortelius" or "we") owns approximately 1.3% of the outstanding common stock of Brookdale Senior Living Inc.1

    $BKD
    $GMRE
    $NTST
    $OHI
    Hospital/Nursing Management
    Health Care
    Real Estate Investment Trusts
    Real Estate
  • Wheeler Real Estate Investment Trust, Inc. and Cedar Realty Trust, Inc. Announce Completion of Merger

    VIRGINIA BEACH, VA / ACCESSWIRE / August 22, 2022 / Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR) ("Wheeler" or the "Company") and Cedar Realty Trust, Inc. (NYSE:CDR) ("Cedar") jointly announced today that they have completed the previously announced merger pursuant to the terms of the Agreement and Plan of Merger, as amended, among the Company, WHLR Merger Sub Inc., WHLR OP Merger Sub LLC, Cedar and Cedar Realty Trust Partnership, L.P., the operating partnership of Cedar. Consummation of the merger represents the final step in Cedar's previously announced strategic process for the sale of Cedar and its assets through a series of related all-cash transactions.As a result of the me

    $CDR
    $WHLR
    Real Estate Investment Trusts
    Real Estate
  • CEDAR REALTY TRUST ANNOUNCES FINAL PROCEEDS OF $29.00 PER SHARE TO COMMON SHAREHOLDERS RESULTING FROM SALE OF ASSETS AND MERGER

    Cedar Board of Directors Declares Special Dividend of $19.52 Per Common Share; Merger Consideration Will Be $9.48 Per Common Share MASSAPEQUA, N.Y., Aug. 9, 2022 /PRNewswire/ -- Cedar Realty Trust (NYSE:CDR) ("Cedar") today announced that Cedar and Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR) ("Wheeler") have jointly determined that the proceeds to Cedar common shareholders from the sale of Cedar's assets and subsequent merger in a series of related all-cash transactions will total $29.00 per share. Accordingly, Cedar's Board of Directors today declared a special dividend on shares of Cedar's outstanding common stock of $19.52 per share, payable to shareholders of record at the c

    $CDR
    $WHLR
    Real Estate Investment Trusts
    Real Estate

$CDR
$WHLR
Large Ownership Changes

This live feed shows all institutional transactions in real time.

See more