other_material
confidence high
sentiment neutral
materiality 0.75
FrontView REIT raises $75M via Series A convertible preferred; appoints Charles Fitzgerald to board
FrontView REIT, Inc.
- Gross proceeds of $75M from sale of 750,000 shares of Series A Convertible Preferred at $100/share to three institutional investors.
- Series A Preferred carries cumulative 6.75% dividend, stepping to 8% after 4 years and up to 12% annually; convertible into common at $17/share.
- Proceeds to be used for general corporate purposes, including future acquisitions.
- Board expanded to 8; Charles Fitzgerald (Maewyn Capital) appointed as director, with Maewyn receiving board nomination and standstill/consent rights.
- Company pays $1.5M commitment fee and up to $500K in purchaser legal fees.
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