The price was announced on Wednesday morning before the market opened and it is $0.40 below what Virginia Beach, Va.-based Wheeler closed at on Tuesday.
Wheeler owns and finances such income producing properties as community shopping centers, neighborhood shopping centers, strip malls and free-standing retail buildings.
For 2Q13, Wheeler’s net loss was $1.3 million compared with a net loss of $259,232 one year prior.
Last November, Wheeler priced its initial public offering at $5.25 per share. Its high point since it started trading was at $6.84 per share, while it hit its low of $4.15 on Wednesday morning, according to Yahoo Finance.