Innovative Industrial Properties unit prices $402.5 million of 6% exchangeable senior notes due 2029

Innovative Industrial Properties Inc

IIPR

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IIP Operating Partnership issued USD 402.5 million of 6.00% exchangeable senior notes due 2029 in a private placement.
Notes pay interest semiannually on June 15 and Dec. 15, starting Dec. 15, 2026.
Initial exchange rate set at 14 shares per USD 1,000 principal, implying an initial exchange price of about USD 69.39.
Holders can require cash repurchase at 100% of principal upon a fundamental change, subject to conditions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. IIP - Innovative Industrial Properties Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-074144), on June 15, 2026, and is solely responsible for the information contained therein.

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