Innovative Industrial Properties Announces Exercise of Option to Purchase Additional Shares of Common Stock
January 28 2020 - 4:30PM
Business Wire
Innovative Industrial Properties, Inc. (the “Company”) (NYSE:
IIPR) announced today the full exercise of the underwriters’ option
to purchase an additional 445,170 shares of common stock in
connection with the Company’s previously announced follow-on
offering that priced on January 24, 2020. In total, the Company
sold 3,412,969 shares of common stock in the offering, raising
gross offering proceeds of approximately $250.0 million.
BTIG, LLC is acting as sole book-running manager for the
offering; Compass Point Research & Trading, LLC and Ladenburg
Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann
Financial Services Inc. (NYSE American: LTS), are acting as co-lead
managers for the offering; and Roth Capital Partners is acting as a
co-manager 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 final prospectus supplement 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;
Ladenburg Thalmann & Co. Inc., 277 Park Avenue, 26th Floor, New
York, NY 10172, or by email at prospectus@ladenburg.com; or Roth
Capital Partners, LLC, 888 San Clemente, Suite 400, Newport Beach,
CA 92660, or by email at rothecm@roth.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. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200128005568/en/
Company Contact: Catherine Hastings Chief Financial Officer,
Chief Accounting Officer and Treasurer Innovative Industrial
Properties, Inc. (858) 997-3332
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