Medalist Diversified, Inc. (MDRR): Nasdaq/NYSE listing notice — Medalist Diversified REIT Enters Property Acquisitions, Faces Preferred Stock Delisting

Medalist Diversified, Inc.

Acquired two properties: Dan Tibbs Road in Huntsville, AL for $3.145M and Scottsville Road in Bowling Green, KY for $2.62M, paid with Series B Preferred Units and Common Units.
Received Nasdaq notice that its 8.0% Series A Cumulative Redeemable Preferred Stock (MDRRP) fails minimum publicly held shares; plans to redeem all shares on Jan 10, 2025, leading to delisting.
Closed private placement of 230,000 common shares at $12.50/share to investors including CFO, exempt under Rule 506(b).
Board granted waivers of ownership limits to allow certain investors to own up to 7.50% of outstanding capital stock.

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Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Medalist Diversified, Inc. received a nasdaq noncompliance notice notice regarding other (rules 5555(a)(3)).

Exchange: nasdaq
Notice: noncompliance notice
Rules: 5555(a)(3)

Exact text from the filing

December 11, 2024, the Company received a letter (the “ Nasdaq Letter ”) from the Listing Qualification Department of The Nasdaq Stock Market LLC (“ Nasdaq ”) notifying the Company that, based on the Company’s Current Report on Form 8-K filed on October 23, 2024, its 8.0% Series A Cumulative Redeemable Preferred Stock (the “ Preferred Stock ”) no longer meets the minimum 100,000 publicly held shares requirement of Nasdaq Listing Rule 5555(a)(3) for continued listing on The Nasdaq Capital Market. The Nasdaq Letter has no immediate effect on the listing of the Preferred Stock, which will conti

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

Medalist Diversified, Inc. received a nasdaq delisting notice notice regarding other (rules 5555(a)(3)).

Exchange: nasdaq
Notice: delisting notice
Rules: 5555(a)(3)

Exact text from the filing

ket LLC (“ Nasdaq ”) notifying the Company that, based on the Company’s Current Report on Form 8-K filed on October 23, 2024, its 8.0% Series A Cumulative Redeemable Preferred Stock (the “ Preferred Stock ”) no longer meets the minimum 100,000 publicly held shares requirement of Nasdaq Listing Rule 5555(a)(3) for continued listing on The Nasdaq Capital Market. The Nasdaq Letter has no immediate effect on the listing of the Preferred Stock, which will continue to trade under the symbol “MDRRP,” subject to the Company’s compliance with the other continued listing requirements of Nasdaq. In acc

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Medalist Diversified, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-24-016327

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