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Innovative Industrial Properties authorizes additional 16.1M shares of Series B preferred stock
IIPBPInnovative Industrial Properties Inc
The company filed Articles Supplementary with the State of Maryland to classify and designate an additional 16,100,000 shares of its 9.25% Series B Cumulative Redeemable Preferred Stock. This action brings the total authorized and classified shares of Series B preferred stock to 18,400,000. The filing does not indicate that any new shares have been issued or sold at this time. Innovative Industrial Properties operates as a real estate investment trust focused on financing and leasing properties for the cannabis industry.