VIRGINIA BEACH, Va., Nov. 28, 2016 (GLOBE NEWSWIRE) -- Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR) ("Wheeler" or the "Company"), a company specializing in owning, acquiring, financing, developing, renovating, leasing and managing income-producing assets, such as community centers, neighborhood centers, strip centers and freestanding retail properties, announced today that it has commenced a follow-on public offering of Series D Cumulative Convertible Preferred Stock ("Series D Preferred Stock"), subject to market and other conditions. The Company expects to grant the underwriters a 30-day option to purchase additional shares to cover overallotments, if any. The Series D Preferred Stock trades on the Nasdaq Capital Market under the symbol "WHLRD." The Company intends to use the net proceeds from this offering to repay its loan with Revere High Yield Fund, LP, for future mainly grocery-anchored acquisitions and investments and additional working capital. Compass Point Research & Trading, LLC, Ladenburg Thalmann & Co. Inc. and Wunderlich Securities, Inc. are serving as book-running managers for the offering. The offering is being made pursuant to the Company's shelf registration statement, which was declared effective by the U.S. Securities and Exchange Commission ("SEC") on September 6, 2016. A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on the SEC's website located at http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus may also be obtained from: Compass Point Research & Trading, LLC, Attention: Equity Syndicate, 1055 Thomas Jefferson Street N.W., Suite 303, Washington, DC 20007 or by email: email@example.com; Ladenburg Thalmann & Co. Inc., Attention: Equity Syndicate, 570 Lexington Avenue, 12th Floor, New York, NY 10022 or by email: firstname.lastname@example.org; or Wunderlich Securities, Inc., Attention: Equity Syndicate, 6000 Poplar Avenue, Suite 150, Memphis, Tennessee 38119, or by email at email@example.com. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.