Four Springs Capital Trust Launches Initial Public Offering

Four Springs Capital Trust, a private real estate investment trust, is launching its initial public offering of 5.6 million common shares at an anticipated price of between $17.00 and $19.00 per share.

The DI Wire previously reported that the company registered a $50 million offering with the Securities and Exchange Commission, but the filing was recently amended to a maximum offering price of $115.9 million.

The common shares have been approved for listing on the NYSE MKT LLC and will likely trade under the symbol “FSPR.”

RBC Capital Markets and SunTrust Robinson Humphrey are acting as joint book-running managers of the offering. BB&T Capital Markets, Capital One Securities, Ladenburg Thalmann, Wunderlich, Sandler O’Neill + Partners, L.P. and Boenning & Scattergood, Inc. are acting as co-managers of the offering.

In connection with the offering, the underwriters have been granted a 30-day option to purchase up to an additional 840,000 common shares to cover overallotments, if any, at the initial public offering price less the underwriting discounts and commissions.

A registration statement on form S-11 relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective.

Four Springs Capital Trust invests in single-tenant, retail, industrial, medical and other office properties throughout the United States that are leased to tenants with remaining lease terms of 10 years or more. As of March 31, 2017, the REIT owned or had interest in a $188 million portfolio of 48 properties that was 100 percent leased to 23 tenants.

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