Medalist: Slumps on discounted stock pricing

Medalist Diversified

09/04/2021 11:42

** Shares of Virginia-based real estate investment trust
 MDRR.O  down as much as 13.1% at $1.52 premarket on equity
pricing
    ** Stock among top pct losers in premarket trade on Nasdaq
    ** Co prices public offering of 8 mln shares at $1.50 per
share, representing a 14% discount to stock's last close
    ** Offer size is slightly more than co's free float -
Refinitiv data
    ** Expected gross proceeds from the offering is ~$12 million
    ** Kingswood Capital Markets, division of Benchmark
Investments Inc, is acting as sole bookrunning manager for the
offering
    ** Up to last close, stock down ~19% YTD

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))