Four Springs Capital Trust, a commercial REIT with 48 properties across 21 states, announced terms for its IPO on Tuesday.
The Lake Como, NJ-based company plans to raise $101 million by offering 5.6 million shares at a price range of $17 to $19. At the midpoint of the proposed range, Four Springs Capital Trust would command a fully diluted market value of $217 million.
Four Springs Capital Trust was founded in 2012 and booked $16 million in revenue for the 12 months ended March 31, 2017. It plans to list on the NYSE under the symbol FSPR. RBC Capital Markets and SunTrust Robinson Humphrey are the joint bookrunners on the deal. It is expected to price during the week of June 19, 2017.
