Filed Pursuant to Rule 424(b)(5)
Registration No. 333-236614
THE INFORMATION IN THIS PRELIMINARY PROSPECTUS SUPPLEMENT IS NOT COMPLETE AND MAY BE CHANGED. THIS PRELIMINARY PROSPECTUS SUPPLEMENT AND THE ACCOMPANYING PROSPECTUS DO NOT CONSTITUTE AN OFFER TO SELL THESE SECURITIES NOR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY JURISDICTION WHERE THE OFFER AND SALE IS NOT PERMITTED.
Subject to CompletionPreliminary Prospectus Supplement dated May 3, 2022
PROSPECTUS SUPPLEMENT
(to Prospectus dated February 25, 2020)
$350,000,000
Common Stock
We are offering $350,000,000 of shares of our common stock.
Our shares trade on the Nasdaq Global Market (“NASDAQ”) under the symbol “FRPT.” On May 2, 2022, the last sale price of the shares as reported on NASDAQ was $93.10 per share. At an assumed offering price of $93.10 per share, we would expect to issue and sell 3,759,398 shares of our common stock.
Investing in the common stock involves risks that are described in the “Risk Factors” section beginning on page S-10 of this prospectus supplement and on page 13 of our Annual Report on Form 10-K for the year ended December 31, 2021 (our “Annual Report”).
| | Per Share | | | Total | |
Public offering price | | | $ | | | $ |
Underwriting discount(1) | | | $ | | | $ |
Proceeds, before expenses, to us | | | $ | | | $ |
(1) | See “Underwriting” for a description of the compensation payable to the underwriters. |
The underwriters may also exercise their option to purchase up to $52,500,000 of additional shares from us, at the public offering price, less the underwriting discount, for 30 days after the date of this prospectus supplement.
Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus supplement. Any representation to the contrary is a criminal offense.
Delivery of the shares will be made on or about , 2022.
BofA Securities | | | Jefferies | | | Truist Securities |
The date of this prospectus supplement is , 2022.