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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Innovative Industrial Properties Inc | NYSE:IIPR | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.12 | 0.11% | 109.60 | 1,044 | 10:29:24 |
| | |
Per Share
|
| |
Total
|
| ||||||
Public offering price
|
| | | $ | 25.00 | | | | | $ | 15,000,000 | | |
Underwriting discount
(1)
|
| | | $ | 1.125 | | | | | $ | 675,000 | | |
Proceeds, before expenses, to us
|
| | | $ | 23.875 | | | | | $ | 14,325,000 | | |
| | |
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June 30, 2017
|
| |||||||||
| | |
Actual
|
| |
As
Adjusted (1) |
| ||||||
| | |
(in thousands, except share
and per share amounts) |
| |||||||||
Stockholders’ equity: | | | | ||||||||||
Series A Preferred Stock, par value $0.001 per share; no shares authorized,
issued and outstanding on an actual basis and 690,000 shares authorized and 600,000 shares issued and outstanding, as adjusted |
| | | $ | — | | | | | $ | 1 | | |
Common stock, par value $0.001 per share; 50,000,000 shares authorized and 3,501,147 shares issued and outstanding on an actual basis and as adjusted
|
| | | | 4 | | | | | | 4 | | |
Additional paid-in capital
|
| | | | 65,379 | | | | | | 79,453 | | |
Accumulated deficit
|
| | | | (5,405 ) | | | | | | (5,405 ) | | |
Total stockholders’ equity
|
| | | $ | 59,978 | | | | | $ | 74,053 | | |
|
| | |
Historical
Innovative Industrial Properties, Inc. |
| |
Adjustment
Related to the Acquisition of the Maryland Property |
| |
Pro Forma
Innovative Industrial Properties, Inc. |
| |||||||||
Revenues: | | | | | |||||||||||||||
Rental
|
| | | $ | 2,579 | | | | | $ | 491 (1) | | | | | $ | 3,070 | | |
Total revenues
|
| | | | 2,579 | | | | | | 491 | | | | | | 3,070 | | |
Expenses: | | | | | |||||||||||||||
General and administrative
|
| | | | 3,221 | | | | | | — | | | | | | 3,221 | | |
Severance
|
| | | | 113 | | | | | | — | | | | | | 113 | | |
Depreciation
|
| | | | 336 | | | | | | 63 (2) | | | | | | 399 | | |
Total expenses
|
| | | | 3,670 | | | | | | 63 | | | | | | 3,733 | | |
(Loss) / income from operations
|
| | | | (1,091 ) | | | | | | 428 | | | | | | (663 ) | | |
Other income
|
| | | | 78 | | | | | | — | | | | | | 78 | | |
Net (loss) / income
|
| | | $ | (1,013 ) | | | | | $ | 428 | | | | | $ | (585 ) | | |
Net loss per share (basic and diluted)
|
| | | $ | (0.31 ) | | | | | | | | | | | $ | (0.17 ) | | |
Weighted average shares outstanding:
|
| | | | |||||||||||||||
Basic and diluted
|
| | | | 3,357,515 | | | | | | | | | | | | 3,357,515 | | |
Dividends declared per common share
|
| | | $ | 0.15 | | | | | | | | | | | $ | 0.15 | | |
Name of Beneficial Owner
|
| |
Number of
Shares Beneficially Owned |
| |
Percent of
All Shares (1) |
| ||||||
Alan Gold
(2)
|
| | | | 281,964 | | | | | | 8.1 % | | |
Paul Smithers
(3)
|
| | | | 30,145 | | | | | | * | | |
Catherine Hastings
(4)
|
| | | | 6,825 | | | | | | * | | |
Gary Kreitzer
(5)
|
| | | | 28,499 | | | | | | * | | |
Scott Shoemaker
(5)
|
| | | | 3,499 | | | | | | * | | |
David Stecher
(5)
|
| | | | 3,499 | | | | | | * | | |
All directors and officers as a group (6 persons)
|
| | | | 354,431 | | | | | | 10.1 % | | |
Serenity Trading, LLC
(6)
|
| | | | 256,143 | | | | | | 7.3 % | | |
Resource Real Estate Diversified Income Fund
(7)
|
| | | | 226,431 | | | | | | 6.4 % | | |
Milestone Investments, LP
(8)
|
| | | | 215,140 | | | | | | 6.1 % | | |
DG Capital Management, LLC
(9)
|
| | | | 212,615 | | | | | | 6.1 % | | |
Quarter Ended
|
| |
Dec. 31, 2016
|
| |
March 31, 2017
|
| |
June 30, 2017
|
| |
Sept. 30, 2017
|
| ||||||||||||
High
|
| | | $ | 20.52 | | | | | $ | 19.94 | | | | | $ | 18.95 | | | | | $ | 18.86 | | |
Low
|
| | | $ | 15.45 | | | | | $ | 15.45 | | | | | $ | 16.54 | | | | | $ | 15.72 | | |
Underwriter
|
| |
Number of Shares
|
| |||
Ladenburg Thalmann & Co. Inc.
|
| | | | 440,000 | | |
National Securities Corporation
|
| | | | 160,000 | | |
Total
|
| | | | 600,000 | | |
|
| | |
Per Share
|
| |
Without Option
|
| |
With Option
|
| |||||||||
Public offering price
|
| | | $ | 25.00 | | | | | $ | 15,000,000 | | | | | $ | 17,250,000 | | |
Underwriting discount
|
| | | $ | 1.125 | | | | | $ | 675,000 | | | | | $ | 776,250 | | |
Proceeds, before expenses, to us
|
| | | $ | 23.875 | | | | | $ | 14,325,000 | | | | | $ | 16,473,750 | | |
1 Year Innovative Industrial Pr... Chart |
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