Revolutionary Industrial Properties Costs Public Providing of 1,300,000 Shares of Widespread Inventory
SAN DIEGO, July 12, 2019–(BUSINESS WIRE)–Revolutionary Industrial Properties, Inc. (the “Firm”) (NYSE: IIPR) introduced immediately the pricing of an underwritten public providing of 1,300,000 shares of its widespread inventory at $126.00 per share for gross proceeds of $163.eight million. The providing is anticipated to shut on or about July 16, 2019, topic to customary closing situations. The Firm has additionally granted the underwriters a 30-day choice to buy as much as a further 195,000 shares of its widespread inventory. All the shares are being bought by the Firm.
The Firm intends to make use of the web proceeds from this providing to put money into specialised industrial actual property property that assist the regulated cannabis cultivation and processing trade which can be in line with its funding technique, and for basic company functions.
BTIG, LLC, Compass Level Analysis & Buying and selling, LLC and Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Monetary Providers Inc. (NYSE American: LTS), are performing as joint book-running managers for the providing.
The providing of the Firm’s widespread inventory will likely be made solely via a prospectus complement and the accompanying prospectus. Copies of the preliminary prospectus complement, remaining prospectus complement (when obtainable) and the accompanying prospectus could also be obtained by contacting BTIG, LLC at 65 East 55th Avenue, New York, NY 10022, or by e-mail at [email protected]; Compass Level Analysis & Buying and selling, LLC at 1055 Thomas Jefferson Avenue, N.W., Suite 303, Washington, DC 20007, or by e-mail at [email protected]; or Ladenburg Thalmann & Co. Inc., 277 Park Avenue, 26th Ground, New York, NY 10172, or by e-mail at [email protected]
A registration assertion relating to those securities has been declared efficient by the Securities and Alternate Fee. This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase any of the supplied securities, nor shall there be any sale of those securities in any state or jurisdiction through which such provide, solicitation or sale can be illegal previous to registration or qualification underneath the securities legal guidelines of such state or jurisdiction.
About Revolutionary Industrial Properties
Revolutionary Industrial Properties, Inc. is an internally-managed actual property funding belief (REIT) centered on the acquisition, possession and administration of specialised industrial properties leased to skilled, state-licensed operators for his or her regulated medical-use cannabis services. Revolutionary Industrial Properties, Inc. has elected to be taxed as a REIT, commencing with the yr ended December 31, 2017.
Authentic press launch
Get forward of the group by signing up for 420 Investor, the biggest & most complete premium subscription service for cannabis merchants and traders since 2013.