Innovative Industrial Properties Prices Public Offering of 9.25% Series B Cumulative Redeemable Preferred Stock
SAN DIEGO–(BUSINESS WIRE)–Innovative Industrial Properties, Inc. (the “Company”) (NYSE: IIPR) announced today the pricing of an underwritten public offering of 2,000,000 shares of its 9.25% Series B Cumulative Redeemable Preferred Stock, par value $0.001 per share (the “Series B Preferred Stock”), at a price of $25.00 per share, for gross proceeds of $50,000,000. The Company granted the underwriters of the offering a 30-day option to purchase up to an additional 300,000 shares of the Company’