Foley & Lardner advised Innovative Industrial Properties, Inc.
Innovative Industrial Properties, Inc. (NYSE: IIPR) announced the full exercise of the underwriters’ option to purchase an additional 402,504 shares of common stock in connection with the Company’s previously announced follow-on offering that priced on June 29, 2020. In total, the Company sold 3,085,867 shares of common stock in the offering, raising gross offering proceeds of approximately $258.7 million.
BTIG, LLC is acting as sole book-running manager for the offering; Roth Capital Partners, Compass Point Research & Trading, LLC and Ladenburg Thalmann & Co. Inc. are acting as co-lead managers for the offering.
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.
The Foley team representing Innovative Industrial Properties included partners Carolyn Long (Picture, Corporate) and Robert Bernstein (Taxation) and associate Neda Sharifi (Corporate).
Law Firms: Foley & Lardner LLP;
Clients: Innovative Industrial Properties ;