Medalist Diversified REIT Announces 1-For-8 Reverse Stock Split; Provides Update On Strategic Review Process

Author: Michael Horton | April 18, 2023 04:46pm

s disclosed on March 10, 2023, the Company established a Special Committee of the Board comprising solely of independent directors charged with exploration of potential strategic alternatives in order to maximize stockholder value. In addition, the Special Committee retained Jones Lang LaSalle Securities, LLC to serve as financial advisor and Troutman Pepper Hamilton Sanders LLP as legal counsel. The Special Committee is in active discussions with potential parties in pursuit of those alternatives and the Company will provide further disclosures as appropriate or required by law or regulation. While the review is underway, the Company remains fully focused on its operations and on the continued execution of its strategies to create stockholder value. There is no assurance that the review will result in any transaction, including a sale of the Company, its assets, or entry into a business combination, among other alternatives being reviewed.

Posted In: MDRR