Wheeler Real Estate Investment Trust, Inc. has signed an important deal to raise up to $25 million.

WHLR · Wheeler Real Estate Investment Trust, Inc.

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The notes carry no interest, and WHLR can repay them in cash without a penalty. The purchase price is payable in WHLR preferred shares, not cash. Scheduled repayments in common shares can add to the share count, so the debt and share costs weigh more than the interest-free term helps.