Real estate investment trust Innovative Industrials Properties IIPR reported the upsize and pricing of an underwritten public offering of its common shares at an estimated cost of $100 million.
The offering consists of 1,348,389 common shares.
The underwriter, BTIG LLC, was also granted a thirty-day option to acquire from the company an additional 202,259 shares of its common stocks.
The initial offering was announced on May 26, and with this upsize, IIPR expands the operation providing 400,000 more shares.
The company plans to use the net proceeds received from this public offering to invest in assets that support the cultivation and manufacture of medical cannabis.
Don’t miss this opportunity to connect with THE cannabis movers and shakers from across the globe during Benzinga’s first Virtual Cannabis Capital Conference on June 1.
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