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Stock impact report

Innovative Industrial Properties Upsizes and Prices Public Offering of Common Stock

Innovative Industrial Properties, Inc (IIPR)  More Company Research Source: Business Wire
US:NYSE Investor Relations: investors.innovativeindustrialproperties.com
PDF SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (the “Company”) (NYSE: IIPR) announced today the upsize and pricing of an underwritten public offering of 2,683,363 shares of its common stock at $83.85 per share for gross proceeds of approximately $225.0 million. The offering is expected to close on or about July 2, 2020, subject to customary closing conditions. The Company has also granted the underwriters a 30-day option to purchase up to an additional 402,504 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 sole book-running manager for the offering; Roth Capital Partners, Compass Point Research & Trading, LLC and Ladenburg Thalmann & Co. In [Read more]
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