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Medalist Diversified, Inc.
Medalist Diversified, Inc. (MDRR) will hold a special meeting of stockholders on November 23, 2026, to approve a charter amendment related to its tax benefit preservation strategy. Since management holds 55.9% of the voting power and intends to vote in favor, the proposal is effectively guaranteed to pass without the need for further proxies. The amendment aims to restrict ownership stakes of 4.9% or more to preserve the company's net operating losses (NOLs) and net capital losses (NCLs) for tax purposes.…more
Medalist Diversified, Inc.
Medalist Diversified, Inc. confirmed that the 'Charter Amendment' to protect tax benefits, previously deemed approved at the June 16, 2026, annual meeting, failed to receive the required shareholder vote. Consequently, the company filed a Certificate of Correction on October 19, 2026, to invalidate the amendment and revert to its prior charter. The company intends to seek shareholder approval for the amendment again at a future special meeting.…more
Medalist Diversified, Inc.
Medalist Diversified, through its subsidiary MDI Mira Sav, has entered into a $13.8 million construction loan agreement for a multifamily townhome development project in Savannah, Georgia. In connection with this loan, the company has provided non-recourse, completion, and environmental indemnification guarantees, and has entered into a loss-sharing agreement with its joint venture partner, Spandrel.…more
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