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Magnetar entities (WHLR) disclose 1,195,354 shares, equal to 45% under exception

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Form Type
SCHEDULE 13G/A

Rhea-AI Filing Summary

Wheeler Real Estate Investment Trust, Inc. (WHLR): This Amendment No. 13 reports that the Reporting Persons may be deemed to beneficially own 1,195,354 shares of Common Stock, equal to 45% of the shares calculated under the Investor Excepted Holder Limits, as of March 31, 2026. The 1,195,354 share figure consists of 145,069 currently held shares and 1,050,285 shares issuable upon hypothetical conversion of the Notes, Series D Preferred Stock and Series B Preferred Stock, subject to the Excepted Holder Agreement. The Reporting Persons state the 45% cap arises from an Excepted Holder Agreement dated February 19, 2026 that permits higher ownership limits (up to 45% of outstanding Common Stock and 19% of total capital stock value) than the Issuer's charter limits. The 45% denominator (2,656,343 shares) was calculated using: 1,433,983 shares outstanding as of March 24, 2026, 172,075 shares issued on March 24, 2026 upon exercise of warrants, plus the hypothetical conversion amount of 1,050,285 shares. The filing is a joint Schedule 13G/A amendment by Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC and David J. Snyderman.

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Insights

Excepted Holder Agreement raises formal ownership caps to 45% and records Magnetar's maximum beneficial stake.

The filing documents an Excepted Holder Agreement dated February 19, 2026 that temporarily replaces charter ownership caps and permits the Reporting Persons to be treated as beneficial owners of up to 45% of Common Stock under the specified calculation. The filing ties the 45% cap to a calculated base of 2,656,343 shares.

Key dependencies include the Excepted Holder Agreement’s continuing effectiveness pursuant to its termination provisions. Future filings will be needed if the Agreement terminates or if conversions/exercises occur that change the calculation basis.

Reports a sizeable, joint beneficial ownership position (1,195,354 shares, 45%) based on conversion assumptions and warrant exercises.

The statement clarifies that the reported share count includes 145,069 presently held shares plus 1,050,285 shares issuable on conversion of convertible instruments, and that 172,075 shares were issued upon warrant exercise on March 24, 2026. The base outstanding figure used in the calculation was 1,433,983 shares as of March 24, 2026.

Shareholder and market implications depend on whether conversions occur and whether the Excepted Holder Agreement remains in effect; cash‑flow treatment of any conversions is not stated in the excerpt.

Reported beneficial ownership 1,195,354 shares As of March 31, 2026 (45% under Excepted Holder Limits)
Investor Excepted Holder Limit 45% Cap on Common Stock beneficial ownership permitted by Excepted Holder Agreement
Calculated base shares 2,656,343 shares Denominator used to compute 45% ownership
Outstanding shares (input) 1,433,983 shares Shares outstanding as of March 24, 2026 (provided by Issuer)
Warrants exercised 172,075 shares Issued to Magnetar Vehicles on March 24, 2026 upon exercise of Warrants
Shares issuable on conversion 1,050,285 shares Assumed hypothetical conversion of Notes and Preferred Stock
Aggregate capital stock limit under agreement 19% Permitted Aggregate Stock Ownership Limit under Excepted Holder Agreement
Excepted Holder Agreement regulatory
"Excepted Holder Agreement pursuant to which the Issuer exempted the Magnetar Vehicles"
Investor Excepted Holder Limits regulatory
"we refer to the foregoing holders collectively as the "Magnetar Vehicles""
convertible preferred stock financial
"Series D Preferred Stock and/or Series B Preferred Stock held by the Magnetar Vehicles into 1,050,285 shares"
Convertible preferred stock is a special class of company shares that pays priority, usually fixed, payments to holders and can be exchanged later for a set number of common shares. It matters to investors because it combines steady income and added protection with the chance to share in a company’s upside; think of it as a hybrid between a bond that pays regularly and an option to convert into growth-oriented stock, where the conversion rules influence both potential gains and how much common shareholders’ ownership may be reduced.
Common Stock Purchase Warrants financial
"shares of Common Stock issued to the Magnetar Vehicles upon the exercise of the Common Stock Purchase Warrants"
Common stock purchase warrants are tradable instruments that give the holder the right to buy a company’s common shares at a set price before a specified date, like a coupon that lets you purchase stock later at a fixed rate. They matter to investors because they offer a way to gain future upside if the stock rises, but when exercised they increase the number of shares outstanding and can reduce existing shareholders’ ownership and earnings per share.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What does WHLR Amendment No. 13 report about Magnetar's holdings?

It reports Magnetar-related Reporting Persons may beneficially own 1,195,354 shares, equal to 45% of the calculated Common Stock base as of March 31, 2026. This figure includes current shares and shares issuable upon hypothetical conversions.

How was the 45% ownership percentage for WHLR calculated?

The 45% is 45% of a calculated base of 2,656,343 shares, which includes 1,433,983 shares outstanding as of March 24, 2026, 172,075 warrant‑issued shares, and 1,050,285 shares from assumed conversions.

What is the Excepted Holder Agreement mentioned in the WHLR filing?

The Excepted Holder Agreement dated February 19, 2026 exempts the Magnetar Vehicles from lower charter ownership caps and permits ownership up to 45% of outstanding Common Stock and 19% of total capital stock value under specified calculations.

Which entities filed the Schedule 13G/A amendment for WHLR?

The amendment was filed jointly by Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC, and David J. Snyderman, with a Joint Filing Agreement attached as Exhibit A.

Do the reported shares include convertible securities for WHLR?

Yes; the reported 1,195,354 shares include 1,050,285 shares issuable upon hypothetical conversion of the Issuer's Notes, Series D Preferred Stock and Series B Preferred Stock, subject to the Excepted Holder Agreement limits.





963025770

(CUSIP Number)
03/31/2026

(Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)




schemaVersion:


SCHEDULE 13G




Comment for Type of Reporting Person: The numbers in Rows 6, 8 and 9 and the percentage in Row 11 represent the number and percentage, respectively, of shares of Common Stock that the Reporting Persons believe is the maximum number of shares of Common Stock that they may be deemed to beneficially own, taking into consideration the Investor Excepted Holder Limits (as defined in Item 2(a) of this Schedule 13G). The 1,195,354 share figure, consisting of 145,069 shares of Common Stock and 1,050,285 shares of Common Stock issuable to the Magnetar Vehicles (as defined in Item 2(a) of this Schedule 13G) upon conversion of the Notes, Series D Preferred Stock and/or Series B Preferred Stock (each as defined in Item 2(a) of this Schedule 13G), subject to the Investor Excepted Holder Limits, is equal to 45% multiplied by 2,656,343 shares of the Issuer's Common Stock. This 2,656,343 share figure, which the Reporting Persons have calculated pursuant to Rule 13d-3(d)(1)(i), in turn includes (i) 1,433,983 shares of Common Stock outstanding as of March 24, 2026 (which figure was provided to the Reporting Persons by the Issuer), (ii) 172,075 shares of Common Stock issued to the Magnetar Vehicles upon the exercise of the Common Stock Purchase Warrants (the "Warrants") on March 24, 2026, and (iii) an assumed hypothetical conversion (as applicable, but subject to the Investor Excepted Holder Limits) of the Notes, Series D Preferred Stock and/or Series B Preferred Stock held by the Magnetar Vehicles into 1,050,285 shares of Common Stock.


SCHEDULE 13G




Comment for Type of Reporting Person: The numbers in Rows 6, 8 and 9 and the percentage in Row 11 represent the number and percentage, respectively, of shares of Common Stock that the Reporting Persons believe is the maximum number of shares of Common Stock that they may be deemed to beneficially own, taking into consideration the Investor Excepted Holder Limits. The 1,195,354 share figure, consisting of 145,069 shares of Common Stock and 1,050,285 shares of Common Stock issuable to the Magnetar Vehicles upon conversion of the Notes, Series D Preferred Stock and/or Series B Preferred Stock, subject to the Investor Excepted Holder Limits, is equal to 45% multiplied by 2,656,343 shares of the Issuer's Common Stock. This 2,656,343 share figure, which the Reporting Persons have calculated pursuant to Rule 13d-3(d)(1)(i), in turn includes (i) 1,433,983 shares of Common Stock outstanding as of March 24, 2026 (which figure was provided to the Reporting Persons by the Issuer), (ii) 172,075 shares of Common Stock issued to the Magnetar Vehicles upon the exercise of the Warrants on March 24, 2026, and (iii) an assumed hypothetical conversion (as applicable, but subject to the Investor Excepted Holder Limits) of the Notes, Series D Preferred Stock and/or Series B Preferred Stock held by the Magnetar Vehicles into 1,050,285 shares of Common Stock.


SCHEDULE 13G




Comment for Type of Reporting Person: The numbers in Rows 6, 8 and 9 and the percentage in Row 11 represent the number and percentage, respectively, of shares of Common Stock that the Reporting Persons believe is the maximum number of shares of Common Stock that they may be deemed to beneficially own, taking into consideration the Investor Excepted Holder Limits. The 1,195,354 share figure, consisting of 145,069 shares of Common Stock and 1,050,285 shares of Common Stock issuable to the Magnetar Vehicles upon conversion of the Notes, Series D Preferred Stock and/or Series B Preferred Stock, subject to the Investor Excepted Holder Limits, is equal to 45% multiplied by 2,656,343 shares of the Issuer's Common Stock. This 2,656,343 share figure, which the Reporting Persons have calculated pursuant to Rule 13d-3(d)(1)(i), in turn includes (i) 1,433,983 shares of Common Stock outstanding as of March 24, 2026 (which figure was provided to the Reporting Persons by the Issuer), (ii) 172,075 shares of Common Stock issued to the Magnetar Vehicles upon the exercise of the Warrants on March 24, 2026, and (iii) an assumed hypothetical conversion (as applicable, but subject to the Investor Excepted Holder Limits) of the Notes, Series D Preferred Stock and/or Series B Preferred Stock held by the Magnetar Vehicles into 1,050,285 shares of Common Stock.


SCHEDULE 13G




Comment for Type of Reporting Person: The numbers in Rows 6, 8 and 9 and the percentage in Row 11 represent the number and percentage, respectively, of shares of Common Stock that the Reporting Persons believe is the maximum number of shares of Common Stock that they may be deemed to beneficially own, taking into consideration the Investor Excepted Holder Limits. The 1,195,354 share figure, consisting of 145,069 shares of Common Stock and 1,050,285 shares of Common Stock issuable to the Magnetar Vehicles upon conversion of the Notes, Series D Preferred Stock and/or Series B Preferred Stock, subject to the Investor Excepted Holder Limits, is equal to 45% multiplied by 2,656,343 shares of the Issuer's Common Stock. This 2,656,343 share figure, which the Reporting Persons have calculated pursuant to Rule 13d-3(d)(1)(i), in turn includes (i) 1,433,983 shares of Common Stock outstanding as of March 24, 2026 (which figure was provided to the Reporting Persons by the Issuer), (ii) 172,075 shares of Common Stock issued to the Magnetar Vehicles upon the exercise of the Warrants on March 24, 2026, and (iii) an assumed hypothetical conversion (as applicable, but subject to the Investor Excepted Holder Limits) of the Notes, Series D Preferred Stock and/or Series B Preferred Stock held by the Magnetar Vehicles into 1,050,285 shares of Common Stock.


SCHEDULE 13G



Magnetar Financial LLC
Signature:/s/ Hayley A. Stein
Name/Title:Hayley A. Stein, Attorney-in-fact for David J. Snyderman, Admin Mgr of Supernova Management LLC, GP of Magnetar Capital Partners LP, its Sole Member
Date:05/15/2026
Magnetar Capital Partners LP
Signature:/s/ Hayley A. Stein
Name/Title:Hayley A. Stein, Attorney-in-fact for David J. Snyderman, Administrative Manager of Supernova Management LLC, its General Partner
Date:05/15/2026
Supernova Management LLC
Signature:/s/ Hayley A. Stein
Name/Title:Hayley A. Stein, Attorney-in-fact for David J. Snyderman, Administrative Manager of Supernova Management LLC
Date:05/15/2026
Snyderman David J.
Signature:/s/ Hayley A. Stein
Name/Title:Hayley A. Stein, Attorney-in-fact for David J. Snyderman
Date:05/15/2026
Exhibit Information

Exhibit A - Joint Filing Agreement, dated May 15, 2026, by and among the Reporting Persons Exhibit B - Power of Attorney, dated December 22, 2022