Medalist Diversified REIT, Inc. Announces Establishment of a Special Committee of the Board and Exploration of Strategic Alternatives
10 Marzo 2023 - 10:05PM
Business Wire
Medalist Diversified REIT, Inc. (NASDAQ: MDRR) (the “Company” or
“Medalist”), a Virginia-based real estate investment trust that
specializes in acquiring, owning and managing value-add commercial
real estate in the Mid-Atlantic and Southeast regions of the United
States, today announced that its Board of Directors (the “Board”)
has established a Special Committee of the Board (the “Special
Committee”) to explore potential strategic alternatives focusing on
maximizing stockholder value.
The Special Committee is comprised solely of independent
directors and is charged with exploring potential strategic
alternatives, including, without limitation, a business combination
involving the Company, a sale of all or part of the Company’s
assets, joint venture arrangements and/or restructurings, and
determining whether a strategic transaction is in the best
interests of the Company. The Special Committee has retained Jones
Lang LaSalle Securities, LLC to act as its financial advisor and
Troutman Pepper Hamilton Sanders LLP as its legal counsel.
There can be no assurance that the strategic alternatives
exploration process will result in any transaction being pursued or
consummated. There is no formal timetable for the Special
Committee’s completion of its exploration of potential strategic
alternatives, and the Company does not intend to disclose any
developments with respect to the Special Committee’s activities
unless and until the Company determines that further disclosure is
appropriate or required by law or regulation.
Forward-Looking Statements
This press release contains statements that are “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995 and other federal securities laws. Forward
looking statements are not historical and are typically identified
by such words as “believe,” “expect,” “anticipate,” “intend,”
“estimate, “may,” “will,” “should” and “could” and include
statements about the Special Committee’s exploration of potential
strategic alternatives and the impact, if any, of such explorations
and results from such explorations on the Company and stockholder
value. Forward-looking statements are based upon the Company’s
present expectations, but are not guarantees or assurances as to
future developments or results. Factors that may cause actual
developments or results to differ from those reflected in
forward-looking statements include, without limitation, those
included in the Company’s most recent Annual Report on Form 10-K
and in the Company’s other filings with the SEC. Investors should
not place undue reliance upon forward-looking statements. The
Company disclaims any obligation to publicly update or revise any
forward-looking statements to reflect changes and new developments
except as required by law or regulation.
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Brent Winn Medalist Diversified REIT, Inc. 804-338-7708
brent.winn@medalistprop.com
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