Filing Details
- Accession Number:
- 0001011438-22-000276
- Form Type:
- 13D Filing
- Publication Date:
- 2022-11-02 20:00:00
- Filed By:
- Jcp Investment Management, Llc
- Company:
- Wheeler Real Estate Investment Trust Inc. (NASDAQ:WHLRD)
- Filing Date:
- 2022-11-03
- SEC Url:
- 13D Filing
Ownership Summary
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| JCP Investment Partnership | 258,548 | 258,548 | 258,548 | 8.2% | ||
| JCP Investment Partners | 258,548 | 258,548 | 258,548 | 8.2% | ||
| JCP Investment Holdings | 258,548 | 258,548 | 258,548 | 8.2% | ||
| JCP Investment Management | 305,883 | 305,883 | 305,883 | 9.7% | ||
| James C. Pappas | 305,883 | 305,883 | 305,883 | 9.7% |
Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________________________________________________________
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
§ 240.13d-2(a)
(Amendment No. 8)1
Wheeler Real Estate Investment Trust, Inc.
(Name of Issuer)
Series D Cumulative Convertible Preferred Stock, no par value per share
(Title of Class of Securities)
963025606
(CUSIP Number)
JAMES C. PAPPAS
JCP INVESTMENT MANAGEMENT, LLC
1177 West Loop South, Suite 1320
Houston, TX 77027
(713) 333-5540
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
November 2, 2022
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or
240.13d-1(g), check the following box ☐.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7
for other parties to whom copies are to be sent.
| 1 | The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page. |
The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that
section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
| CUSIP NO. 963025606 | | |
| 1 | | NAME OF REPORTING PERSON JCP Investment Partnership, LP | |||
| 2 | | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ☐ | |||
| 3 | | SEC USE ONLY | |||
| 4 | | SOURCE OF FUNDS WC, OO | |||
| 5 | | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) ☐ | |||
| 6 | | CITIZENSHIP OR PLACE OF ORGANIZATION TEXAS | |||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | | 7 | | SOLE VOTING POWER 258,548 | |
| | 8 | | SHARED VOTING POWER - 0 - | ||
| | 9 | | SOLE DISPOSITIVE POWER 258,548 | ||
| | 10 | | SHARED DISPOSITIVE POWER - 0 - | ||
| 11 | | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 258,548 | |||
| 12 | | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | |||
| 13 | | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.2% | |||
| 14 | | TYPE OF REPORTING PERSON PN | |||
| CUSIP NO. 963025606 | | |
| 1 | | NAME OF REPORTING PERSON JCP Investment Partners, LP | |||
| 2 | | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ☐ | |||
| 3 | | SEC USE ONLY | |||
| 4 | | SOURCE OF FUNDS AF | |||
| 5 | | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) ☐ | |||
| 6 | | CITIZENSHIP OR PLACE OF ORGANIZATION TEXAS | |||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | | 7 | | SOLE VOTING POWER 258,548 | |
| | 8 | | SHARED VOTING POWER - 0 - | ||
| | 9 | | SOLE DISPOSITIVE POWER 258,548 | ||
| | 10 | | SHARED DISPOSITIVE POWER - 0 - | ||
| 11 | | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 258,548 | |||
| 12 | | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | |||
| 13 | | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.2% | |||
| 14 | | TYPE OF REPORTING PERSON PN | |||
| CUSIP NO. 963025606 | | |
| 1 | | NAME OF REPORTING PERSON JCP Investment Holdings, LLC | |||
| 2 | | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ☐ | |||
| 3 | | SEC USE ONLY | |||
| 4 | | SOURCE OF FUNDS AF | |||
| 5 | | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) ☐ | |||
| 6 | | CITIZENSHIP OR PLACE OF ORGANIZATION TEXAS | |||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | | 7 | | SOLE VOTING POWER 258,548 | |
| | 8 | | SHARED VOTING POWER - 0 - | ||
| | 9 | | SOLE DISPOSITIVE POWER 258,548 | ||
| | 10 | | SHARED DISPOSITIVE POWER - 0 - | ||
| 11 | | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 258,548 | |||
| 12 | | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | |||
| 13 | | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.2% | |||
| 14 | | TYPE OF REPORTING PERSON OO | |||
| CUSIP NO. 963025606 | | |
| 1 | | NAME OF REPORTING PERSON JCP Investment Management, LLC | |||
| 2 | | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ☐ | |||
| 3 | | SEC USE ONLY | |||
| 4 | | SOURCE OF FUNDS AF | |||
| 5 | | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) ☐ | |||
| 6 | | CITIZENSHIP OR PLACE OF ORGANIZATION TEXAS | |||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | | 7 | | SOLE VOTING POWER 305,883 | |
| | 8 | | SHARED VOTING POWER - 0 - | ||
| | 9 | | SOLE DISPOSITIVE POWER 305,883 | ||
| | 10 | | SHARED DISPOSITIVE POWER - 0 - | ||
| 11 | | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 305,883 | |||
| 12 | | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | |||
| 13 | | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.7% | |||
| 14 | | TYPE OF REPORTING PERSON OO | |||
| CUSIP NO. 963025606 | | |
| 1 | | NAME OF REPORTING PERSON James C. Pappas | ||||
| 2 | | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ☐ (b) ☐ | ||||
| 3 | | SEC USE ONLY | ||||
| 4 | | SOURCE OF FUNDS AF | ||||
| 5 | | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) ☐ | ||||
| 6 | | CITIZENSHIP OR PLACE OF ORGANIZATION USA | ||||
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | | 7 | | SOLE VOTING POWER 305,883 | ||
| | 8 | | SHARED VOTING POWER - 0 - | |||
| | 9 | | SOLE DISPOSITIVE POWER 305,883 | |||
| | 10 | | SHARED DISPOSITIVE POWER - 0 - | |||
| 11 | | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 305,883 | ||||
| 12 | | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ☐ | ||||
| 13 | | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.7% | ||||
| 14 | | TYPE OF REPORTING PERSON IN | ||||
Amendment No. 8 to Schedule 13D
The following constitutes Amendment No. 8 ("Amendment No. 8") to the Schedule 13D filed with the Securities and Exchange Commission ("SEC") by the undersigned. This Amendment No. 8 amends and supplements the Schedule 13D
as specifically set forth herein.
All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule 13D, as amended. Information given in response to each item shall be deemed incorporated by
reference in all other items, as applicable.
| Item 4. | Purpose of Transaction. |
Item 4 of this Schedule 13D is supplemented and superseded, as the case may be, as follows:
As previously disclosed, the Reporting Persons filed a Complaint for Declaratory and Injunctive Relief and Damages (the “Complaint”) against the Issuer and
controlling persons of Issuer in the United States District Court for the District of Maryland (the “District Court”) to seek to halt the Issuer’s attempt to unilaterally amend the Articles Supplementary in order to avoid the mandatory redemption
of certain shares of the Issuer’s preferred stock, including the Shares, required by the Asset Coverage Provision. On November 2, 2022, the Reporting Persons finalized a settlement of all claims against the controlling persons of the Issuer
detailed in the Complaint and on November 3, 2022, filed with the District Court a stipulation of dismissal with the Issuer of all claims against the Issuer detailed in the Complaint.
The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may from time to time and at any time in the future depending
on various factors, including, without limitation, the Issuer’s financial position and strategic direction, actions taken by the Issuer’s Board of Directors, price levels of the Issuer’s securities, other investment opportunities available to the
Reporting Persons, conditions in the securities market and general economic and industry conditions, take such actions with respect to the investment in the Issuer as they deem appropriate. These actions may include: (i) acquiring additional Shares
and/or other equity, debt, notes, other securities, or derivative or other instruments that are based upon or relate to the value of securities of the Issuer (collectively, “Securities”) in the open market or otherwise; (ii) disposing of any or all
of their Securities in the open market or otherwise; (iii) engaging in any hedging or similar transactions with respect to the Securities; or (iv) proposing or considering one or more of the actions described in subsections (a) through (j) of Item
4 of Schedule 13D.
Except as set forth herein, the Reporting Persons do not have present plans or proposals at this time that relate to or would result in any of the transactions
described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.
| Item 5. | Interest in Securities of the Issuer. |
Items 5(a) – (c) are hereby amended and restated to read as follows:
The aggregate percentage of Shares reported as beneficially owned by each person named herein is based upon 3,152,392 Shares outstanding, as disclosed in the Issuer’s Schedule TO filed with the SEC on
November 1, 2022.
| A. | JCP Partnership |
| | (a) | As of the close of business on November 2, 2022, JCP Partnership beneficially owned 258,548 Shares. |
Percentage: Approximately 8.2%
| | (b) | 1. Sole power to vote or direct vote: 258,548 |
| | | 2. Shared power to vote or direct vote: 0 |
| | | 3. Sole power to dispose or direct the disposition: 258,548 |
| | | 4. Shared power to dispose or direct the disposition: 0 |
| B. | JCP Partners |
| | (a) | JCP Partners, as the general partner of JCP Partnership, may be deemed the beneficial owner of the 258,548 Shares held by JCP Partnership. |
Percentage: Approximately 8.2%
| | (b) | 1. Sole power to vote or direct vote: 258,548 |
| | | 2. Shared power to vote or direct vote: 0 |
| | | 3. Sole power to dispose or direct the disposition: 258,548 |
| | | 4. Shared power to dispose or direct the disposition: 0 |
| C. | JCP Holdings |
| | (a) | JCP Holdings, as the general partner of JCP Partners, may be deemed the beneficial owner of the 258,548 Shares held by JCP Partnership. |
Percentage: Approximately 8.2%
| | (b) | 1. Sole power to vote or direct vote: 258,548 |
| | | 2. Shared power to vote or direct vote: 0 |
| | | 3. Sole power to dispose or direct the disposition: 258,548 |
| | | 4. Shared power to dispose or direct the disposition: 0 |
| D. | JCP Management |
| | (a) | JCP Management, as the investment manager of JCP Partnership and the JCP Account, may be deemed the beneficial owner of the 305,883 Shares held by JCP Partnership and the JCP Account. |
Percentage: Approximately 9.7%
| | (b) | 1. Sole power to vote or direct vote: 305,883 |
| | | 2. Shared power to vote or direct vote: 0 |
| | | 3. Sole power to dispose or direct the disposition: 305,883 |
| | | 4. Shared power to dispose or direct the disposition: 0 |
| E. | Mr. Pappas |
| | (a) | Mr. Pappas, as the managing member of JCP Management and sole member of JCP Holdings, may be deemed the beneficial owner of the 305,883 Shares held by JCP Partnership and the JCP Account. |
Percentage: Approximately 9.7%
| | (b) | 1. Sole power to vote or direct vote: 305,883 |
| | | 2. Shared power to vote or direct vote: 0 |
| | | 3. Sole power to dispose or direct the disposition: 305,883 |
| | | 4. Shared power to dispose or direct the disposition: 0 |
| | (c) | There have been no transactions in Shares by the Reporting Persons during the past 60 days. |
SIGNATURES
After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated: November 3, 2022
| JCP Investment Partnership, LP | |||
| | | | |
| | | ||
| By: | | JCP Investment Management, LLC Investment Manager | |
| | | ||
| By: | | /s/ James C. Pappas | |
| Name: | | James C. Pappas | |
| Title: | | Managing Member | |
| JCP Investment Partners, LP | |||
| | | | |
| | | ||
| By: | | JCP Investment Holdings, LLC General Partner | |
| | | ||
| By: | | /s/ James C. Pappas | |
| Name: | | James C. Pappas | |
| Title: | | Sole Member | |
| JCP Investment Holdings, LLC | |||
| By: | | /s/ James C. Pappas | |
| Name: | | James C. Pappas | |
| Title: | | Sole Member | |
| JCP Investment Management, LLC
| |||
| By: | | /s/ James C. Pappas | |
| Name: | | James C. Pappas | |
| Title: | | Managing Member | |
| /s/ James C. Pappas | |||
| James C. Pappas | |||
| | |||