Medalist Diversified, Inc. (MDRR): M&A transaction — Medalist Diversified REIT acquires Bowling Green property for $2.62M in OP units; seller linked to CEO

Medalist Diversified, Inc.

Acquired Scottsville Road Property in Bowling Green, KY for $2,620,000, paid with 209,600 OP units at $12.50/unit plus $15,000 cash for seller costs.
Seller is CWS BET Seattle L.P., whose manager is CEO Frank Kavanaugh; OP units assigned to BET Trust, where Kavanaugh is also trustee.
OP units redeemable for cash or Company stock, but redemption for stock requires majority shareholder approval.
Pro forma financials and historical statements for acquired property to be filed by April 5, 2025.

item 2.01 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Medalist Diversified, Inc. completed an acquisition involving CWS BET Seattle L.P. for $2,620,000 (closed 2025-01-24).

Action: acquisition
Counterparty: CWS BET Seattle L.P.
Consideration: $2,620,000
Closing: 2025-01-24

Exact text from the filing

24, 2025, by and between Seller and MDR Bowling Green (as amended by the First Amendment to Contribution Agreement, the “Contribution Agreement”), for a purchase price of $2,620,000, exclusive of closing costs, paid in a combination of (i) 209,600 operating partnership units in the Operating Partnership (the “OP Units”), valued at approximately $12.50 per OP

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Medalist Diversified, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-25-000493

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