05:07 PM EDT, 10/03/2024 (MT Newswires) -- FrontView REIT ( FVR ) said Thursday it closed the initial public offering and raised net proceeds of about $231.9 million.

The company said it sold 13.2 million shares at $19 a piece in the IPO and plans to use the proceeds to repay borrowing under its revolving and term loan credit facilities.

The remaining proceeds will be used for general business and working capital purposes, including potential acquisitions, FrontView added.

The company's shares debuted on the New York Stock Exchange on Wednesday.