Innovative Industrial Properties Announces Public Offering of 2,000,000 Shares of Common Stock
Innovative Industrial Properties, Inc. (the “Company”) (NYSE: IIPR) announced today that it has commenced a public offering of
2,000,000 shares of its common stock. The Company expects to grant the underwriters a 30-day option to purchase up to an additional
300,000 shares of its common stock to cover overallotments, if any. 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.
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 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 Ladenburg Thalmann & Co. Inc., 277 Park Avenue, 26th Floor, New York, NY 10172,
or by email at prospectus@ladenburg.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 BTIG, LLC at 825 3rd
Avenue, 32nd Floor, New York, NY 10022, or by email at equitycapitalmarkets@btig.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 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 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.
Innovative Industrial Properties, Inc.
Catherine Hastings
Chief Financial Officer, Chief Accounting Officer and Treasurer
(858) 997-3332
View source version on businesswire.com: https://www.businesswire.com/news/home/20181003005880/en/