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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 445,170 shares of common stock in connection with the Company’s previously announced follow-on offering that priced on January 24, 2020. In total, the Company sold 3,412,969 shares of common stock in the offering, raising gross offering proceeds of approximately $250.0 million.