DALLAS, Oct. 3, 2024 /PRNewswire/ -- FrontView REIT, Inc. (the "Company" or "FrontView") (NYSE: FVR) today announced the closing of its underwritten initial public offering of 13,200,000 shares of its common stock at a public offering price of $19.00 per share. The net proceeds from the offering were approximately $231.9 million, after deducting underwriting discounts and commissions and estimated expenses payable by the Company. The Company intends to use the net proceeds from the offering to repay borrowings outstanding under its revolving credit facility and term loan credit facility. Following such uses, the Company expects to use any remaining net proceeds for general business and working capital purposes, including potential future acquisitions.

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, New York 10014, or email: [email protected]; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at [email protected] and [email protected]; Wells Fargo Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or email a request to [email protected]; and BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, email: [email protected].

About FrontView

FrontView (NYSE: FVR) 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.