Innovative Industrial Properties files to sell up to $500M of common and preferred stock via at-the-market program

Filed February 26, 2025 · ~1 min read

Key Changes

• high

  IIPR may sell up to $500 million of common stock and Series A Preferred Stock through equity distribution agreements, with sales at market prices.

  The Offering verify on EDGAR →
• medium

  Net proceeds will fund investments, repay debt including 5.50% Notes due 2026, and for working capital and general corporate purposes.

  Use of Proceeds verify on EDGAR →
• high

  Series A Preferred Stock pays a 9.00% annual dividend on a $25.00 liquidation preference ($2.25 per share) and is redeemable at the company's option.

  Use of Proceeds verify on EDGAR →