VIRGINIA BEACH, Va., Dec. 01, 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 free-standing retail properties, announced today the pricing of a public offering and sale of 637,000 shares of its 8.75% Series D Cumulative Convertible Preferred Stock, liquidation preference of $25.00 per share (the "Series D Preferred Stock"), at a public offering price of $24.00 per share, for total net proceeds of approximately $14.5 million after deducting underwriting discounts, commissions, and estimated offering expenses payable by the Company. The Company has granted the underwriters a 30-day option to purchase up to 95,550 additional shares to cover overallotments, if any. The offering is expected to close on or about December 6, 2016, subject to the satisfaction of customary closing conditions. The Company's Series D Preferred Stock is listed on the Nasdaq Capital Market under the symbol "WHLRD." Shares of the Company's common stock, $0.01 par value per share (the "Common Stock"), also trade on the Nasdaq Capital Market under the symbol "WHLR." The Company intends to use the net proceeds from this offering for future acquisitions and investments in mainly grocery-anchored retail properties and for general corporate purposes. 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 a 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.