Innovative Industrial Properties Prices Upsized Private Offering of Exchangeable Senior Notes Due 2029
Innovative Industrial Properties priced an upsized private offering of $350 million in 6.0% exchangeable senior notes due 2029, increasing the size from the previously announced $250 million. The notes are issued by its operating partnership and guaranteed by IIPR, with an initial exchange price of approximately $69.39 per share.
Key figures
- Deal Value Usd
- 350000000
- Exchange rate
- 14.4113 shares per $1,000 principal
- Interest rate
- 6.0%
- Maturity date
- June 15, 2029
- Exchange price
- $69.39
- Repurchase funding
- $70.0 million
- Over allotment option
- 52500000
- Original offering size
- 250000000
AI analysis
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