Innovative Industrial Properties Announces Public Offering of 1,250,000 Shares of Common Stock
July 11 2019 - 4:05PM
Business Wire
Innovative Industrial Properties, Inc. (the “Company”) (NYSE:
IIPR) announced today that it has commenced a public offering of
1,250,000 shares of its common stock. The Company expects to grant
the underwriters a 30-day option to purchase up to an additional
187,500 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, Compass Point Research & Trading, LLC and
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg
Thalmann Financial Services Inc. (NYSE American: LTS), are acting
as joint book-running 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 equitycapitalmarkets@btig.com; Compass
Point Research & Trading, LLC at 1055 Thomas Jefferson Street,
N.W., Suite 303, Washington, DC 20007, or by email at
syndicate@compasspointllc.com; or Ladenburg Thalmann & Co.
Inc., 277 Park Avenue, 26th Floor, New York, NY 10172, or by email
at prospectus@ladenburg.com.
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.
About Innovative Industrial Properties
Innovative Industrial Properties, Inc. is an internally-managed
real estate investment trust (REIT) 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,
Inc. has elected to be taxed as a REIT, commencing with the year
ended December 31, 2017.
This press release contains statements that the Company believes
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 offering and the use
of proceeds from the offering, 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. The Company disclaims any
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20190711005793/en/
Catherine Hastings Chief Financial Officer, Chief Accounting
Officer and Treasurer Innovative Industrial Properties, Inc. (858)
997-3332
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