Innovative Industrial Properties Announces Exercise of Option to Purchase Additional Shares of Common Stock

SAN DIEGO--(BUSINESS WIRE)--Innovative Industrial Properties, Inc. (the “Company”) (NYSE: IIPR) announced today the full exercise of the underwriters’ option to purchase an additional 195,000 shares of common stock in connection with the Company’s recent equity offering. The sale of the additional shares closed today, July 18, 2019, and the original public offering of 1,300,000 shares of common stock closed on July 16, 2019. In total, the Company sold 1,495,000 shares of common stock in the offering, raising gross offering proceeds of approximately $188.4 million.