Innovative Industrial Properties Prices Initial Public Offering
December 01 2016 - 7:30AM
Business Wire
Innovative Industrial Properties, Inc. (the “Company”) (NYSE:
IIPR) announced today the pricing of its initial public offering of
3,350,000 shares of common stock at a public offering price of
$20.00 per share. The Company granted the underwriters of the
offering a 30-day option to purchase up to an additional 502,500
shares of the Company’s common stock at the initial public offering
price to cover over-allotments, if any. The shares are expected to
begin trading on December 1, 2016 on the New York Stock Exchange
under the symbol “IIPR.” The offering is expected to close on
December 6, 2016, subject to customary conditions.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg
Thalmann Financial Services Inc. (NYSE MKT:LTS), and Compass Point
Research & Trading LLC are acting as joint book-running
managers for the offering. Aegis Capital Corp. and National
Securities Corporation are acting as co-managers for the
offering.
A registration statement relating to these securities was
declared effective by the Securities and Exchange Commission on
November 30, 2016. This offering is being made only by means of a
prospectus. A copy of the final prospectus related to the offering
may be obtained, when available, from Ladenburg Thalmann & Co.
Inc., 570 Lexington Avenue, 11th Floor, New York, NY 10022, or by
email at prospectus@ladenburg.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor will there be
any sale of these securities, in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
About Innovative Industrial
Properties
Innovative Industrial Properties, Inc. is a self-advised
Maryland corporation focused on the acquisition, ownership and
management of specialized industrial properties leased to
experienced, state-licensed operators for their regulated
medical-use cannabis facilities. Innovative Industrial Properties
intends to elect to be taxed as a real estate investment trust.
Forward-Looking
Statements
This press release contains statements that we believe to be
“forward-looking statements” within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
All statements other than historical facts, including, without
limitation, statements regarding the closing of the offering and
any exercise of the over-allotment option by the underwriters, are
forward-looking statements. When used in this press release, words
such as we “expect,” “intend,” “plan,” “estimate,” “anticipate,”
“believe” or “should” or the negative thereof or similar
terminology are generally intended to identify forward-looking
statements. Such forward-looking statements are subject to risks
and uncertainties that could cause actual results to differ
materially from those expressed in, or implied by, such statements.
Investors should not place undue reliance upon forward-looking
statements.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161201005467/en/
Innovative Industrial Properties, Inc.Paul Smithers,
858-997-3332Chief Executive Officer
Innovative Industrial Pr... (NYSE:IIPR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Innovative Industrial Pr... (NYSE:IIPR)
Historical Stock Chart
From Sep 2023 to Sep 2024