trending Market Intelligence /marketintelligence/en/news-insights/trending/YyTFxQUcI3gfT7NVJGJMvg2 content esgSubNav
In This List

Innovative Industrial Properties offers 600,000 shares of preferred stock

Blog

Insight Weekly: PE firms shift strategies; bank earnings kick off; bankruptcies plummet

Blog

Insight Weekly: Stocks limp into 2023; GCC banks set for rebound; deep-sea mining faces pushback

Infographic

Infographic: The Big Picture 2023 Sustainability Outlook

Blog

The Big Picture for 2023: Assessing Investment Trends and the Impact of Investor Activism


Innovative Industrial Properties offers 600,000 shares of preferred stock

Innovative Industrial Properties Inc. is offering 600,000 shares of its series A cumulative redeemable preferred stock, with a $25.00-per-share liquidation preference.

The offering comes with a 30-day overallotment option for the underwriters to buy up to 90,000 additional shares at the public offering price, less the underwriting discount.

The company intends to funnel the proceeds to its operating partnership, which will use the funds to invest in specialized industrial real estate assets that support the medical cannabis cultivation and processing industry, as well as for general corporate purposes.

Ladenburg Thalmann is the book-running manager, and National Securities Corp. is the co-manager.