Company: FVR
Filing Date: 2025-03-20
Form Type: 10-K
Source: 0000950170-25-042774
Chunk: 140

Company: FrontView REIT, Inc.
Filing Date: 2025-03-20
Form: 10-K
Item: Item 1B
Chunk 140
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. These covenants require the Company to maintain certain financial ratios. As of December 31, 2024, the Company believes it was in compliance with all of its loan covenants. If a default or event of default exists, either through default on payments or breach of covenants, we may be restricted from paying dividends to our stockholders in excess of dividends required to maintain our REIT qualification.

6. PARTNERS’ CAPITAL Partner’s Capital is comprised of Common Units issued to investors by the Predecessor. As of December 31, 2023, investors had subscribed for 30 Common Units for a total committed capital of $306,978. As of December 31, 2023, all Common Units subscribed for had been issued. Upon completion of the contribution agreements described in Note 1, the Predecessor's Partner's Capital converted to non-controlling interests (see Note 8).

7. EQUITYOn October 3, 2024, the Company completed its IPO and issued 13,200 shares of Common Stock at an initial public offering price of $19.00 per share ("IPO Price") and received net proceeds of $233,871, which were net of underwriter fees and commissions of $16,929. The Company repaid the outstanding principal and accrued interest of the CIBC Revolving Credit Facility of $150,501 and CIBC Term Loan of $16,041 with the net proceeds. The remaining net proceeds were used for general business and working capital purposes, including acquisitions. As part of the IPO, the underwriters were granted an option, exercisable within 30 days from October 3, 2024, to purchase up to an additional 1,980 shares of Common Stock at the IPO Price, less underwriting discounts and commissions. On October 23, 2024, the underwriters partially exercised their option by purchasing an additional 1,091 shares of Common Stock. The Company received net proceeds of $19,327, which were net of underwriter fees and commissions of $1,399.Pursuant to the Company's Articles of Incorporation (the "Charter"), the Company is authorized to issue an aggregate of 450,000 shares of Common Stock with a par value of $0.01 per share and 50,000 shares of preferred stock with a par value of $0.01 per share. The Company's board of directors, without any action by our stockholders, may amend the Company's Charter from