Innovative Industrial Properties prices $50M 9.25% Series B preferred
Innovative Industrial Properties priced 2,000,000 shares of 9.25% Series B cumulative redeemable preferred stock at $25 each for gross proceeds of $50M, with a 30-day option for 300,000 additional shares. The NYSE listing as “IIPR Pr B” is planned, with closing expected Oct. 19, 2026.