Innovative Industrial Properties Prices Public Offering of 1,578,948 Shares of Common Stock

Innovative Industrial Properties Prices Public Offering of 1,578,948 Shares of Common Stock
CANNANNEW REPORT

SAN DIEGO–(BUSINESS WIRE)–$IIPR #Dividendstocks–Innovative Industrial Properties, Inc. (the “Company”) (NYSE: IIPR) announced today the pricing of an underwritten public offering of 1,578,948 shares of its common stock at $190.00 per share for gross proceeds of approximately $300.0 million. The offering is expected to close on or about April 5, 2022, subject to customary closing conditions. The Company has also granted the underwriters a 30-day option to purchase up to an additional 236,842 shares of its common stock. All of the shares are being sold by the Company. The Company intends to use the net proceeds from this offering to invest in specialized industrial real estate assets used in the regulated cannabis industry that are consistent with its investment strategy, and for general corporate purposes. BTIG, LLC is acting as sole book-running manager for the offering. Piper Sandler & Co., Roth Capital Partners and Compass Point Research & Trading, LLC are acting as co-lead managers for the offering. The offering of the Company’s common stock will be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the preliminary prospectus supplement, final prospectus supplement (when available) and the accompanying prospectus may be obtained by contacting BTIG, LLC at 65 East 55th Street, New York, NY 10022, or by email at prospectusdelivery@btig.com; Piper Sandler & Co., 1251 Avenue of the Americas, 6th Floor, New York, NY 10020, or by email at prospectus@psc.com; Roth Capital Partners, 888 San Clemente, Suite 400, Newport Beach, CA 92660, or by email at rothecm@roth.com; or Compass Point Research & Trading, LLC at 1055 Thomas Jefferson Street, N.W., Suite 303, Washington, DC 20007, or by email at syndicate@compasspointllc.com. A registration statement relating to these securities became effective upon filing with the Securities and Exchange Commission. This press release shall not constitute an offer to…

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Source : Innovative Industrial Properties Prices Public Offering of 1,578,948 Shares of Common Stock

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