SAN DIEGO--(BUSINESS WIRE)--
Innovative Industrial Properties, Inc. (the “Company”) (NYSE: IIPR)
announced today the full exercise of the underwriters’ option to
purchase an additional 390,000 shares of common stock in connection with
the Company’s previously announced follow-on offering that priced on
October 3, 2018. In total, the Company sold 2,990,000 shares of common
stock in the offering, raising gross offering proceeds of $119.6 million.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann
Financial Services Inc. (NYSE American: LTS), Compass Point Research &
Trading, LLC and BTIG, LLC are acting as joint book-running managers for
the offering.
The offering of the Company’s common stock is being made only by means
of a prospectus supplement and the accompanying prospectus. Copies of
the preliminary prospectus supplement, final prospectus supplement and
the accompanying prospectus may be obtained by contacting Ladenburg
Thalmann & Co. Inc., 277 Park Avenue, 26th Floor, New York, NY 10172, or
by email at [email protected];
Compass Point Research & Trading, LLC at 1055 Thomas Jefferson Street,
N.W, Suite 303,Washington, DC 20007, or by email at [email protected];
or BTIG, LLC at 825 3rd Avenue, 32nd Floor, 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.
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.
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, 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.For
a discussion of some of the risks and important factors that could
affect such forward-looking statements, see the sections entitled “Risk
Factors” in the prospectus supplement and the prospectus related to the
offering and in the Company’s Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q incorporated by reference in the prospectus
supplement and prospectus related to the offering. 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181009005856/en/
Innovative Industrial Properties, Inc.
Catherine Hastings
Chief
Financial Officer, Chief Accounting Officer and Treasurer
(858)
997-3332
Source: Innovative Industrial Properties, Inc.