DALLAS, Oct. 22,
2024 /PRNewswire/ -- FrontView REIT, Inc. (the
"Company" or "FrontView") (NYSE: FVR) today announced that the
underwriters of its previously announced initial public offering
have exercised their option to purchase an additional 1,090,846
shares of the Company's common stock at the initial public offering
price of $19.00 per share, less
underwriting discounts and commissions. The option closing will
settle on October 23, 2024, subject
to customary conditions. After giving effect to the option closing,
the Company sold a total of 14,290,846 shares of its common stock
in the offering, representing gross proceeds of approximately
$271.5 million, prior to underwriting
discounts and commissions and estimated expenses payable by the
Company.
The Company's common stock began trading on the New York Stock
Exchange on October 2, 2024 under the
ticker symbol "FVR."
Morgan Stanley, J.P. Morgan, Wells Fargo Securities and BofA
Securities acted as joint book-running managers for the offering.
Capital One Securities and CIBC Capital Markets acted as
co-managers.
A registration statement relating to these securities was
declared effective by the U.S. Securities and Exchange Commission
on October 1, 2024.
The offering was made only by means of a prospectus. Copies of
the final prospectus related to this offering may be obtained from
Morgan Stanley, Prospectus Department, 180 Varick Street,
New York, NY 10014, or by email
at prospectus@morganstanley.com; J.P. Morgan Securities
LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717 or by email at
prospectus-eq_fi@jpmchase.com and
postsalemanualrequests@broadridge.com; and Wells Fargo
Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option
#5) or by email at
WFScustomerservice@wellsfargo.com; and BofA Securities,
NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attention:
Prospectus Department or by email
at dg.prospectus_requests@bofa.com.
About FrontView
FrontView is an internally-managed net-lease REIT that acquires,
owns and manages primarily outparcel properties that are net leased
on a long-term basis to a diversified group of tenants. The Company
is differentiated by a "real estate first" investment approach
focused on outparcel properties that are in prominent locations
with direct frontage on high-traffic roads that are highly visible
to consumers. FrontView is a growing net-lease REIT and owns a
well-diversified portfolio of 278 outparcel properties with direct
frontage across 31 U.S. states as of June 30, 2024. Its
tenants include service-oriented businesses, such as restaurants,
cellular stores, financial institutions, automotive stores and
dealers, medical and dental providers, pharmacies, convenience and
gas stores, car washes, home improvement stores, grocery stores,
professional services as well as general retail tenants.
Forward-Looking Statements
Certain statements contained in this press release may be
considered forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. FrontView intends
for all such forward-looking statements to be covered by the
applicable safe harbor provisions for forward-looking statements
contained in those acts. Such forward-looking statements can
generally be identified by FrontView's use of forward-looking
terminology such as "may," "will," "expect," "intend,"
"anticipate," "estimate," "believe," "continue," "seek,"
"objective," "goal," "strategy," "plan," "focus," "priority,"
"should," "could," "potential," "possible," "look forward,"
"optimistic," or other similar words. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. Such statements
are subject to certain risks and uncertainties, including known and
unknown risks, which could cause actual results to differ
materially from those projected or anticipated. Therefore, such
statements are not intended to be a guarantee of FrontView's
performance in future periods. Except as required by law, FrontView
does not undertake any obligation to update or revise any
forward-looking statements contained in this release.
Investor Relations Contact
media@frontviewreit.com
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SOURCE FrontView REIT, Inc.