Medalist Diversified REIT Inc. reduced the number of shares of common stock in its IPO to 350,000 shares, from 700,000 shares
The expected price range remains between $9.00 to $11.00 per share.
The company expects the offering to generate net proceeds of about $2.9 million, which will be used to acquire additional properties and investments, for working capital and for general corporate purposes.
Maxim Group LLC is the sole book-running manager for the offering.
