Innovative Industrial Properties Files New Registration Statement and Updates ATM Offering; Exhibit Includes LSB Industries Q4 Results

Innovative Industrial Properties, Inc. announced on February 21, 2025, that it has filed a new Registration Statement on Form S-3ASR (No. 333-285148) with the Securities and Exchange Commission. The new statement replaces the company’s prior registration statement, which terminated on January 24, 2025. Along with the filing, the company issued an ATM Prospectus Supplement dated February 26, 2025, to continue its at‐the‐market offering of common stock and Series A Preferred Stock for an aggregate offering price of up to $500 million. As of the filing date, approximately $489.9 million remains available for offer and sale.

In connection with the new registration statement, Innovative Industrial Properties and its operating partnership, IIP Operating Partnership, LP, also entered into a series of amendments to the equity distribution agreements with its sales agents – BTIG, LLC; Jefferies LLC; Piper Sandler & Co.; and Roth Capital Partners, LLC. The amendments were designed, in part, to reflect the filing of the new registration statement.

Also included in the filing is an exhibit (Exhibit 99.1) containing a report from LSB Industries, Inc. In its attached report, LSB Industries detailed its operating results for the fourth quarter and full year ended December 31, 2024. The report noted that fourth quarter net sales grew modestly to $134.9 million compared to $132.6 million in the same period of 2023, despite a net loss of $9.1 million in the quarter – a wider loss than the $5.3 million reported a year earlier. The report attributed these results to turnaround costs and non‐cash charges linked to asset write‐downs during the quarter. Additionally, the report provided full-year comparisons, production volume details, key product sales metrics, and forward-looking commentary on market conditions and low carbon production initiatives for 2025.

The filing emphasizes that neither the new registration statement nor the accompanying prospectus supplement constitutes an offer to sell or the solicitation of an offer to buy the shares in any jurisdiction where such an offer or sale would be unlawful. It also confirms that the shares will be offered pursuant to the terms of the new registration and the ATM Prospectus Supplement.

Both the Innovative Industrial Properties update and the attached exhibit from LSB Industries provide investors with detailed insights into capital-raising efforts, operational adjustments, and market performance updates for the respective companies.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Innovative Industrial Properties’s 8K filing here.

About Innovative Industrial Properties

Innovative Industrial Properties, Inc is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized properties leased to experienced, state-licensed operators for their regulated cannabis facilities. Innovative Industrial Properties, Inc has elected to be taxed as a real estate investment trust, commencing with the year ended December 31, 2017.