Business Context and Reporting Period
This Form 8-K filing by Medalist Diversified REIT, Inc. (MDRR) covers the period ending November 30, 2018, with the earliest event reported on November 28, 2018. The company is a Maryland corporation reporting under Commission File Number 001-38719.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, margin, debt, or liquidity figures. The document focuses exclusively on the capitalization event of the initial public offering (IPO).
Material Changes
- Initial Public Offering: On November 28, 2018, the company priced its IPO of 240,000 shares of common stock at $10.00 per share.
- Trading Commencement: These shares, combined with 1,995,000 shares previously sold via a Regulation A exempt offering, began trading on the NASDAQ Capital Market under the symbol "MDRR" on November 28, 2018.
- Total Public Float: The filing indicates a total of 2,235,000 shares are now publicly traded (240,000 IPO shares + 1,995,000 prior exempt shares).
Guidance, Outlook, and Risks
The filing text does not contain management commentary, financial guidance, outlook, or specific risk factors. It serves as a notification of the IPO pricing and the commencement of trading. The company is identified as an emerging growth company.
Investor Verification Checklist
- Verify the total number of shares outstanding post-IPO (2,235,000 shares).
- Confirm the IPO pricing of $10.00 per share and the total capital raised from the 240,000 new shares ($2.4 million).
- Review the attached Press Release (Exhibit 99.1) for details on the use of proceeds and underwriting arrangements.
- Check the NASDAQ Capital Market listing status for ticker symbol "MDRR".