Four Springs Capital Trust, a private real estate investment trust, has commenced an initial public offering of its common shares.
Four Springs Capital Trust filed a registration statement with the Securities and Exchange Commission to offer 18 million common shares that are expected to be priced between $13.00 and $15.00 per share. The common shares have been approved for listing on the New York Stock Exchange under the ticker symbol “FSPR.”
The REIT expects to grant the underwriters a 30-day option to purchase up to an additional 2.7 million shares.
The net proceeds from the offering will be used to complete pending acquisitions and repay outstanding debt, with any remaining proceeds used for general corporate purposes, including potential future acquisitions.
Morgan Stanley, Goldman Sachs & Co. LLC and Wells Fargo Securities are acting as joint book-running managers for the offering. Mizuho Securities, Scotiabank, Wolfe | Nomura Alliance and Berenberg are acting as book-runners for the offering. R. Seelaus & Co., LLC is acting as co-manager for the offering.
Four Springs Capital Trust is an internally managed REIT focused on single-tenant, income producing industrial, medical, service/necessity retail and office properties throughout the United States that are subject to long-term net leases.
As of December 15, 2021, the REIT’s portfolio included 156 properties located in 32 states that were 99.8 percent leased to 68 tenants operating in 37 different industries.
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