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Medalist Diversified REIT trims IPO

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.