RICHMOND, Va.–(BUSINESS WIRE)–Medalist Diversified REIT (NASDAQ: MDRR) (the “Company”), a
Virginia-based real estate investment trust that specializes in
acquiring, owning and managing value-add commercial real estate in the
Mid-Atlantic and Southeast regions, today announced the underwriters of
its previously announced public offering of 1,666,667 shares of its
common stock, have purchased an additional 227,062 shares of the
Company’s common stock pursuant to their over-allotment option. The
price to the public in the offering was $4.80 per share. The net
proceeds from the exercise of the over-allotment option were
approximately $1 million, after deducting fees and estimated expenses.
The exercise of the over-allotment closed on May 21, 2019.
Aegis Capital Corp. served as the sole book runner for the offering and
Maxim Group LLC served as the Company’s financial advisor.
The shares were offered pursuant to a registration statement on Form
S-11 (File No. 333-229436) that was declared effective by the Securities
and Exchange Commission (SEC) on May 8, 2019. Information about this
offering is available in the Company’s prospectus filed with the SEC on
May 9, 2019, copies of which may be obtained by contacting Aegis Capital
Corp., 810 Seventh Avenue, New York, New York 10019, or by calling (212)
813-1010. This final prospectus may also be obtained on the Securities
and Exchange Commission’s Web site at www.sec.gov.
About Medalist Diversified REIT
Medalist Diversified REIT Inc. is a Virginia-based real estate
investment trust that specializes in acquiring, owning and managing
value-add commercial real estate in the Mid-Atlantic and Southeast
regions. The Company’s strategy is to focus on value-add and
opportunistic commercial real estate which is expected to provide an
attractive balance of risk and returns. Medalist utilizes a rigorous,
consistent and replicable process for sourcing and conducting due
diligence of acquisitions. The Company seeks to maximize operating
performance of current properties by utilizing a hands-on approach to
property management while monitoring the middle market real estate
markets in the southeast for acquisition opportunities and disposal of
properties as considered appropriate. For more information on Medalist,
please visit the Company website at https://www.medalistreit.com.
Forward Looking Statements
This press release contains statements that are “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995 and other federal securities laws. Forward looking
statements are statements that are not historical, including statements
regarding management’s intentions, beliefs, expectations,
representations, plans or predictions of the future, and are typically
identified by such words as “believe,” “expect,” “anticipate,” “intend,”
“estimate,” “may,” “will,” “should” and “could.” Because such statements
include risks, uncertainties and contingencies, actual results may
differ materially from those expressed or implied by such forward
looking statements. These forward-looking statements are based upon the
Company’s present expectations, but these statements are not guaranteed
to occur.. Furthermore, the Company disclaims any obligation to
publicly update or revise any forward-looking statement to reflect
changes in underlying assumptions or factors, of new information, data
or methods, future events or other changes. Investors should not place
undue reliance upon forward-looking statements. For further discussion
of the factors that could affect outcomes, please refer to the “Risk
Factors” section of the prospectus, and in the Company’s annual and
periodic reports and other documents filed with the SEC, copies of which
are available on the SEC’s website, www.sec.gov.
Contacts
Investor Relations Contact:
The Equity Group
Jeremy Hellman,
Senior Associate
(212) 836-9626 / [email protected]
