Cannabis investor IIP prices share offering to raise $300 million

Cannabis real estate investment trust Innovative Industrial Properties (IIP) priced an underwritten share offering to raise roughly $300 million.

Net proceeds from the offering will be used for cannabis industrial real estate investments and for general corporate purposes, IIP noted in a Friday news release.

The offering involves 1,578,948 IIP shares priced at $190 per share and is expected to close April 5.

The underwriters have a 30-day option to purchase 236,842 more shares.

2022 MJBiz Factbook – Now Available

The essential resource for cannabis business leaders across all sectors provides the latest data and in-depth analysis you need to develop informed business strategies and avoid costly missteps.

Featured Inside:
  • Segmented research reports for the marijuana + hemp industries 
  • Accurate financial forecasts + investment trends  
  • State-by-state guide to regulations, taxes & opportunities  
  • 40+ charts and graphs with key data points


Get the facts and stay ahead of the curve.

San Diego-based IIP owned 107 properties across the U.S. as of March 30, according to a recent regulatory filing.

IIP shares trade as IIPR on the New York Stock Exchange.