FrontView REIT, Inc. Announces the Underwriters' Exercise of their Option to Purchase 1,090,846 Shares, Increasing Gross Proceeds to $271.5 million

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 [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]; and Wells Fargo Securities, 90 South 7th Street, 5th Floor, Minneapolis, MN 55402, at 800-645-3751 (option #5) or by email at [email protected]; and BofA Securities, NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attention: Prospectus Department or by email at [email protected].

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

[email protected]

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SOURCE FrontView REIT, Inc.