Innovative Industrial Properties (IIPR) plans to raise $176 million in an IPO on Thursday, December 1st. The company will be issuing 8,800,000 shares at a price of $20.00 per share.

In the last twelve months, Innovative Industrial Properties generated $4.2 million in revenue and $3.5 million in net income. The company has a market cap of $201.8 million.

Ladenburg Thalmann and Compass Point acted as the underwriters for the IPO.

Innovative Industrial Properties provided the following description of their company for its IPO: “We are a newly formed, self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Initially, we intend to acquire our properties through sale-leaseback transactions and third-party purchases. We expect to lease our properties on a triple-net lease basis, where the tenant is responsible for all aspects of and costs related to the property and its operation during the lease term, including maintenance, taxes and insurance. “.

Innovative Industrial Properties was founded in 2016 and has 5 employees. The company is located at 17190 Bernardo Center Drive, San Diego, CA 92128, US and can be reached via phone at (858) 997-3332 or on the web at https://www.innovativeindustrialproperties.com.

Receive News & Stock Ratings for Innovative Industrial Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Innovative Industrial Properties and related stocks with our FREE daily email newsletter.