Innovative Industrial Properties Announces Exercise of Option to Purchase Additional Shares of Common Stock

Innovative Industrial Properties Announces Exercise of Option to Purchase Additional Shares of Common Stock
CANNANNEW REPORT

SAN DIEGO–(BUSINESS WIRE)–Innovative Industrial Properties, Inc. (the “Company”) (NYSE: IIPR) announced today the full exercise of the underwriters’ option to purchase an additional 236,842 shares of common stock in connection with the Company’s previously announced follow-on offering that priced on April 1, 2022. In total, the Company sold 1,815,790 shares of common stock in the offering, raising gross offering proceeds of approximately $345.0 million. 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 is being made only by means of a prospectus supplement and the accompanying prospectus. Copies of the final prospectus supplement 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 sell or the solicitation of an offer to buy any of the offered securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. About Innovative Industrial Properties Innovative Industrial Properties, Inc. is an internally-managed real estate…

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