Innovative Industrial Properties, Inc. (NYSE:IIPR) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Item5.03 Amendments to Articles of Incorporation or Bylaws;
Change in Fiscal Year.
Effective as of 5:00 p.m. Eastern Time on January 26, 2017,
Innovative Industrial Properties, Inc. (the Company) amended and
restated its charter (the Amended and Restated Charter) to
re-classify all of the shares of the Company’s Class A common
stock, par value $0.001 per share, and Class B common stock, par
value $0.001 per share, to common stock of the Company, par value
$0.001 per share. Immediately prior to the effectiveness of the
Amended and Restated Charter, there were no shares of Class B
common stock outstanding, as all shares of Class B common stock
previously outstanding were redeemed by the Company for $0.001
per share (par value) and cancelled immediately before the
Company’s initial public offering in December 2016.
The reclassification of the shares of Class A common stock to
common stock of the Company had no impact on the voting powers,
preferences, rights and qualifications, limitations and
restrictions of such shares. There were no changes to the ticker
symbol or the CUSIP number of the Company’s common stock.
The foregoing description of the Amended and Restated Charter
does not purport to be complete and is qualified in its entirety
by reference to the complete text of the Amended and Restated
Charter, which is filed as Exhibit3.1 to this current report and
incorporated herein by reference.
Item8.01 Other Events.
On January 24, 2017, the Company issued a press release
announcing the matters discussed in this current report. A copy
of the press release is filed as Exhibit 99.1 to this current
report and incorporated herein by reference.
Item9.01 Financial Statements and Exhibits.
| (d) | Exhibits. |
| Exhibit | Description of Exhibit | |
| 3.1 |
Articles of Amendment and Restatement of Innovative Industrial Properties, Inc. |
|
| 99.1 |
Press release issued by Innovative Industrial Properties, Inc. on January 24, 2017. |
About Innovative Industrial Properties, Inc. (NYSE:IIPR)
Innovative Industrial Properties, Inc. is focused on the acquisition, ownership and management of specialized industrial properties leased to state-licensed operators for their regulated medical-use cannabis facilities. The Company intends to acquire its properties through sale-leaseback transactions and third-party purchases. It is focused on leasing its properties on a triple-net lease basis, where the tenant is responsible for all aspects of and costs related to the property and its operation during the lease term, including maintenance, taxes and insurance. The Company intends to conduct business in an umbrella partnership real estate investment trust (UPREIT), structure through its operating partnership. The Company’s real estate investments will consist of primarily properties suitable for cultivation and production of medical-use cannabis. Innovative Industrial Properties, Inc. (NYSE:IIPR) Recent Trading Information
Innovative Industrial Properties, Inc. (NYSE:IIPR) closed its last trading session down -0.05 at 18.75 with 21,328 shares trading hands.
