Medalist REIT Files 8-K for Material Agreement
Ticker: MDRR · Form: 8-K · Filed: Oct 23, 2024 · CIK: 1654595
| Field | Detail |
|---|---|
| Company | Medalist Diversified Reit, Inc. (MDRR) |
| Form Type | 8-K |
| Filed Date | Oct 23, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01, $25.00, $0.194, $25.194, $0.50 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, filing
TL;DR
Medalist REIT filed an 8-K on 10/23/24 for a material agreement. Details TBD.
AI Summary
On October 23, 2024, Medalist Diversified REIT, Inc. filed an 8-K report. The filing primarily concerns the entry into a material definitive agreement and includes financial statements and exhibits. Specific details regarding the agreement or financial figures were not provided in the excerpt.
Why It Matters
This filing indicates a significant event for Medalist Diversified REIT, Inc., potentially impacting its business operations and financial standing.
Risk Assessment
Risk Level: medium — The filing of an 8-K for a material definitive agreement suggests a significant event that could carry inherent risks or opportunities for the company.
Key Players & Entities
- Medalist Diversified REIT, Inc. (company) — Registrant
- October 23, 2024 (date) — Date of Report
FAQ
What is the nature of the material definitive agreement entered into by Medalist Diversified REIT, Inc. on October 23, 2024?
The provided excerpt does not specify the nature of the material definitive agreement.
Are there any specific financial figures or dollar amounts mentioned in relation to the material definitive agreement?
No specific financial figures or dollar amounts are mentioned in the provided excerpt.
What are the principal executive offices of Medalist Diversified REIT, Inc.?
The principal executive offices are located at P.O. Box 8436, Richmond, VA 23226.
What is the telephone number for Medalist Diversified REIT, Inc.?
The telephone number is (804) 338-7708.
What is the state of incorporation for Medalist Diversified REIT, Inc.?
The state of incorporation is Maryland.
Filing Stats: 923 words · 4 min read · ~3 pages · Grade level 11.5 · Accepted 2024-10-23 16:15:16
Key Financial Figures
- $0.01 — ed Trading Symbol(s) Common Stock, $0.01 par value Nasdaq Capital Market MDR
- $25.00 — redeemed at a cash redemption price of $25.00 per share, plus any accrued and unpaid
- $0.194 — ate in an amount equal to approximately $0.194 per share, for a total payment of $25.1
- $25.194 — 0.194 per share, for a total payment of $25.194 per share. From and after the Optional
- $0.50 — g shares of Series A Preferred Stock of $0.50 per share were paid separately on Octob
Filing Documents
- mdrr-20241023x8k.htm (8-K) — 50KB
- mdrr-20241023xex99d1.htm (EX-99.1) — 9KB
- mdrr-20241023xex99d1001.jpg (GRAPHIC) — 7KB
- 0001558370-24-013520.txt ( ) — 226KB
- mdrr-20241023.xsd (EX-101.SCH) — 4KB
- mdrr-20241023_def.xml (EX-101.DEF) — 14KB
- mdrr-20241023_lab.xml (EX-101.LAB) — 19KB
- mdrr-20241023_pre.xml (EX-101.PRE) — 13KB
- mdrr-20241023x8k_htm.xml (XML) — 7KB
01
Item 1.01 Entry into a Material Definitive Agreement On October 23, 2024, Medalist Diversified REIT, Inc. (the " Company ") gave notice of its intention to redeem 140,000 shares (the " Redeemed Shares ") of its 8.0% Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share (the " Series A Preferred Stock "), on November 25, 2024 (the " Optional Redemption Date "). In accordance with the articles supplementary to the articles of incorporation of the Company designating the Series A Preferred Stock, the Redeemed Shares will be redeemed at a cash redemption price of $25.00 per share, plus any accrued and unpaid dividends up to, but not including, the Optional Redemption Date in an amount equal to approximately $0.194 per share, for a total payment of $25.194 per share. From and after the Optional Redemption Date, dividends on the Redeemed Shares will cease to accumulate, the Redeemed Shares will no longer be outstanding, and all rights of the holders of such shares will terminate, except the right of the holders to receive the cash payable upon such redemption, without interest. Quarterly dividends on the outstanding shares of Series A Preferred Stock of $0.50 per share were paid separately on October 21, 2024 to holders of record as of the close of business on October 16, 2024, in the customary manner. Accordingly, the redemption price for the Series A Preferred Stock will not include such dividends, but it will include a partial quarterly dividend from October 22, 2024 up to, but not including, the Optional Redemption Date. A copy of a press release announcing the notice of redemption is "furnished" as Exhibit 99.1 to this Current Report on Form 8-K. The information in Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the " Exchange Act "), or incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act. Cautionary Statements Regarding Forward-Looking St
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press Release dated October 23, 2024 104 Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL Document SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MEDALIST DIVERSIFIED REIT, INC. Dated: October 23, 2024 By: /s/ C. Brent Winn, Jr. C. Brent Winn, Jr. Chief Financial Officer