11:38 AM EDT, 09/18/2024 (MT Newswires) -- Four Corners Property Trust ( FCPT ) said Tuesday it plans to offer up to $500 million of its common shares from time to time under equity distribution deals with various sales agents.

The company intends to contribute any net proceeds it receives from the stock sale to its operating partnership in exchange for the operating partnership's common units, according to a filing with the US Securities and Exchange Commission.

The operating partnership, in turn, plans to use the proceeds for general corporate purposes, Four Corners said.

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