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 its private
placement of 270,833 shares of its common stock at a purchase price of
$4.80 per share for gross proceeds of approximately $1.3 million. The
private placement is expected to close on May 31, 2019, subject to the
satisfaction of customary closing conditions.
Aegis Capital Corp. served as the exclusive placement agent and Maxim
Group LLC served as the Company’s financial advisor.
The Company’s CEO Tim Messier commented, “We are pleased to have raised
this additional capital in support of our property acquisition
objectives. We continue to fill our pipeline with quality acquisition
candidates and intend to put this capital to work in the near future.”
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, including the
Company’s closing of the private placement on the terms described
above or at all, 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 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190531005097/en/
Copyright Business Wire 2019