Industries Commercial Real Estate

Wheeler REIT announces price of common stock offering

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The Wheeler Real Estate Investment Trust Inc. of Virginia Beach announced Wednesday that it will price a pubic offering of 2.7 million common shares at $4.30 per share.

The REIT expects proceeds of $11.825 million from the sale.

The offering is expected to close on Aug. 26.

Maxim Group LLC and Newbridge Securities Corp. are acting as joint book-running managers of the offering. National Securities Corp. is acting as lead manager of the offering. Capitol Securities Management Inc. and CV Brokerage Inc. are co-managers for the offering.

Wheeler specializes in owning, acquiring, financing, developing, renovating, leasing and managing assets, such as community and neighborhood center, strip malls and free-standing retail properties.

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