FCPT Announces Pricing of Upsized Public Offering of 3,500,000 Shares of Common Stock

Company Release - 8/2/2018 9:51 PM ET

MILL VALLEY, Calif.--(BUSINESS WIRE)-- Four Corners Property Trust, Inc. (NYSE:FCPT) (the “Company” or “FCPT”) today announced that it has priced an upsized underwritten registered public offering of 3,500,000 shares of common stock at a public offering price of $25.00 per share. In connection with the offering, the Company also granted the underwriters a 30-day option to purchase up to an additional 525,000 shares of common stock.

The Company estimates that the net proceeds from the offering will be approximately $83.8 million (or approximately $96.4 million if the underwriters exercise in full their option to purchase additional shares) after deducting the underwriting discounts and commissions and its estimated offering expenses. The Company intends to use the net proceeds from this offering for general corporate purposes and to fund the purchase price of previously disclosed pending acquisitions. The closing of the offering is expected to occur on or about August 7, 2018, subject to the satisfaction of customary closing conditions.

The offering was made solely by means of a prospectus supplement to the Company’s prospectus, dated December 5, 2016, filed as part of the Company’s effective shelf registration statement relating to these securities. The offering is being made through an underwriting group led by J.P. Morgan, Barclays, and Morgan Stanley, who are acting as book-running managers for the offering, and Raymond James, who is acting as co-manager for the offering. Copies of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: (866) 803-9204 or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: (888) 603-5847, Barclaysprospectus@broadridge.com. These documents will also be filed with the Securities and Exchange Commission (the “SEC”) and will be available at the SEC's web site at www.sec.gov.

This press release is not an offer to sell, nor a solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.

About FCPT

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. As of June 30, 2018, FCPT owned 535 properties located in 44 states and representing an aggregate leasable area of 3.7 million square feet.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding FCPT’s intent, belief or expectations, including, but not limited to, statements regarding the Company's ability to complete the offering and the intended use of net proceeds. Words such as “anticipate(s),” “expect(s),” “intend(s),” “plan(s),” “believe(s),” “may,” “will,” “would,” “could,” “should,” “seek(s)” and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. Forward-looking statements speak only as of the date on which such statements are made and, except in the normal course of FCPT’s public disclosure obligations, FCPT expressly disclaims any obligation to publicly release any updates or revisions to any forward-looking statements to reflect any change in FCPT’s expectations or any change in events, conditions or circumstances on which any statement is based. Forward-looking statements are based on management’s current expectations and beliefs and FCPT can give no assurance that its expectations or the events described will occur as described. For a further discussion of these and other factors that could cause FCPT’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in FCPT’s most recent annual report on Form 10-K, and other risks described in documents subsequently filed by FCPT from time to time with the SEC.

Bill Lenehan, 415-965-8031
Gerry Morgan, 415-965-8032

Source: Four Corners Property Trust, Inc.