MDRR - Medalist Diversified REIT announces 1-for-8 reverse stock split

2023-04-18 17:06:32 ET

• Medalist Diversified REIT ( NASDAQ: MDRR ) said Tuesday its board approved a 1-for-8 reverse stock split, effective at 5 p.m. ET on May 3.
• The stock will start trading on Nasdaq Capital Market on a split-adjusted basis on May 4.
• The reverse stock split is intended to help the REIT regain compliance with Nasdaq's minimum bid price rule for continued listing.
• However, there can be no assurance that Medalist ( MDRR ) will be able to regain compliance or maintain its listing.
• The special committee tasked with Medalist's ( MDRR ) ongoing strategic review is in active discussions with potential parties in pursuit of those alternatives.
• There is no assurance that the review will result in any transaction, including a sale.
• Earlier, Medalist ( MDRR ) declared a $0.01 quarterly dividend.

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