Wheeler Real Estate Investment Trust in Virginia Beach takes its stock public in an IPO
- November 19, 2012
Wheeler Real Estate Investment Trust Inc., based in Virginia Beach, announced the pricing Monday of its initial public offering (IPO) of 3,016,045 shares of its common stock. The price to the public $5.25 per share.
Shares of Wheeler’s common stock were supposed to begin trading on The Nasdaq Capital Market under the symbol “WHLR” beginning later this morning on Nov. 19. The closing of the offering occurred on November 16.
Wellington Shields & Co. LLC in New York City and Capitol Securities Management Inc. in Glen Allen, Va., are serving as joint book-running managers for the offering. A prospectus is available from both companies.
To celebrate its IPO, Wheeler’s Chairman and President, Jon S. Wheeler, rang the opening bell at The Nasdaq Stock Market in New York City on Monday at 9:30 a.m. The REIT focuses on owning, acquiring, financing, developing, renovating, leasing and managing income producing assets.