FrontView REIT, Inc. announced on October 22, 2024, that the underwriters of its initial public offering exercised their option to purchase an additional 1,090,846 shares of common stock. These additional shares were acquired at the initial public offering price of $19.00 per share. The option closing was scheduled to settle on October 23, 2024.
This exercise increased the total number of shares sold in the offering to 14,290,846. Consequently, the gross proceeds from the IPO rose to approximately $271.5 million, before deducting underwriting discounts, commissions, and estimated expenses. This additional capital further enhances FrontView REIT's financial capacity.
The increased proceeds provide FrontView REIT with greater flexibility to execute its strategy of repaying legacy debt and funding new acquisitions. This development signals robust investor interest and confidence in the company's business model and future growth potential. The expanded capital base supports the company's long-term operational and investment goals.
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