FrontView REIT, Inc. Announces Pricing of Initial Public Offering

DALLAS, Oct. 1, 2024 /PRNewswire/ — FrontView REIT, Inc. (the “Company” or “FrontView”) today announced the pricing of its underwritten initial public offering of 13,200,000 shares of its common stock at the initial public offering price of $19.00 per share. In addition, the underwriters of the offering have been granted a 30-day option to purchase from the Company up to 1,980,000 additional shares of its common stock at the initial public offering price, less underwriting discounts and commissions. 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 is expected to begin trading on the New York Stock Exchange on October 2, 2024, under the ticker symbol “FVR.” The offering is expected to close on October 3, 2024, subject to customary closing conditions.

Morgan Stanley, J.P. Morgan, Wells Fargo Securities, and BofA Securities are acting as joint book-running managers for the proposed offering. Capital One Securities and CIBC Capital Markets are acting as co-managers.

The offering is being made only by means of a prospectus. Copies of the final prospectus related to this offering, when available, 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 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. FrontView 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. As of June 30, 2024, FrontView owned a well-diversified portfolio of 278 outparcel properties with direct frontage across 31 U.S. states. FrontView’s 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.

Important Information

A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (the “SEC”) on October 1, 2024. Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

Certain statements contained in this press release, including statements relating to FrontView’s expectations regarding the completion and timing of its proposed public offering and listing, 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

Rob Shelton

[email protected]

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