ETFMG ALTERNATIVE HARVEST ETF logo

MJ - ETFMG ALTERNATIVE HARVEST ETF News Story

$12.66 -0.3  -2.2%

Sector
Size
Market Cap £n/a
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 6400

BUZZ-Cannabis REIT Innovative Industrial falls after pricing share offering

Wed 27th May, 2020 3:20pm
(Updates for offering price)
    ** Innovative Industrial Properties Inc  IIPR.N  shares down
1.2% at $84 early Weds after co prices follow-on
    ** Stock threatening to snap 8-session win streak
    ** Co sells ~1.35 mln shares for ~$100 mln gross raise
 urn:newsml:reuters.com:*:nBw3NxNzMa
    ** Deal size increased from 1 mln shares
    ** Sources say offering prices at $76.75, a 9.7% discount to
stock's Tues close, bottom of $76.75-$78.20 range marketed by
sole bookrunner BTIG
    ** IIPR to use net proceeds to invest in specialized
industrial properties that support regulated medical-use
cannabis cultivation and processing industry
    ** Co has ~17 mln total shares outstanding, per Refinitiv
data
    ** IIPR last raised equity in Jan when co priced $217 mln
follow-on at $73.25  urn:newsml:reuters.com:*:nL1N29T0AC
    ** With move on Weds, stock up 10.6% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.