The company to offer up to 1 million shares of common stock.
Innovative Industrial Properties, Inc. (NYSE: IIPR) announced today that it has commenced a public offering of 1,000,000 shares of its common stock. The Company expects to grant the underwriter a 30-day option to purchase up to an additional 150,000 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 that support the regulated cannabis cultivation and processing industry that are consistent with its investment strategy and for general corporate purposes.
BTIG, LLC is acting as the sole underwriter 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 [email protected]
A registration statement relating to these securities has been declared effective by 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.
To learn more about Innovative Industrial Properties, visit the company HQ here.
Disclaimer: Past performance is not an indicator of future performance.
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