SAN DIEGO--(BUSINESS WIRE)--
Innovative Industrial Properties, Inc. (the “Company”) (NYSE: IIPR)
announced today the closing 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. Shares of the Company’s common stock are traded on the New York
Stock Exchange under the symbol “IIPR.”
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann
Financial Services Inc. (NYSE MKT:LTS), and Compass Point Research &
Trading LLC served as joint book-running managers for the offering.
National Securities Corporation and Aegis Capital Corp. served 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 was made only by means of a prospectus. Copies of
the final prospectus related to the offering may be obtained from
Ladenburg Thalmann & Co. Inc., 570 Lexington Avenue, 11th
Floor, New York, NY 10022, or by email at [email protected].
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, 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 any such state or
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.
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Innovative Industrial Properties, Inc.
Paul Smithers
Chief
Executive Officer
(858) 997-3332
Source: Innovative Industrial Properties, Inc.