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MDRR - Medalist diversified REIT stock drops 11% after pricing public offering
Medalist Diversified REIT Inc.
Medalist Diversified REIT (MDRR) announces prices offering of 8M shares of its common stock at a price of $1.50/share, for gross proceeds of ~$12M.Underwriters granted a 45-day option to purchase up to 1.2M additional shares.Company intends to use the net proceeds to acquire additional properties, for working capital, for general corporate purposes.The offering is expected to close on or about April 13, 2021.Shares -11% after-hours.