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Medalist Diversified REIT (MDRR) has provided an update.
Medalist Diversified REIT, Inc. announced plans for a reverse stock split followed by a forward stock split, effective July 2, 2024. The reverse split will consolidate ten shares into one, while the forward split will then convert each share into five, ultimately reducing total shares from 2,236,631 to approximately 1,118,315. Shareholders will not see a change in their ownership percentage but should expect new CUSIP numbers and possible cash in lieu of fractional shares. These changes aim to increase the stock’s per-share trading price, although the company caresses caution, noting that market capitalization and liquidity might be impacted and the desired increase in share price cannot be guaranteed.
Learn more about MDRR stock on TipRanks’ Stock Analysis page.
