---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-005522"
form_type: "8-K"
ticker: "IIPR"
cik: "0001677576"
company_name: "INNOVATIVE INDUSTRIAL PROPERTIES INC"
filed_at: "2023-01-23T23:59:59+00:00"
generated_at: "2026-06-20T11:50:44.011551+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# IIPR Terminates Prior ATM Agreements, Enters $500M New ATM Program

## Summary
- Terminated prior ATM agreements with BTIG, Roth Capital, Compass Point, Ladenburg Thalmann, and Piper Sandler effective Jan 24, 2023.
- Entered new equity distribution agreements with BTIG, Jefferies, Roth Capital, and Piper Sandler for up to $500M in common stock.
- New program allows sales via NYSE, block trades, or other at-the-market methods; commission up to 2% of gross proceeds.
- Prior ATM program had no remaining capacity? No details; new program is under existing shelf registration statement.

## SEC filing metadata
- accession: 0001104659-23-005522
- form_type: 8-K
- ticker: IIPR
- cik: 0001677576
- company_name: INNOVATIVE INDUSTRIAL PROPERTIES INC
- filed_at: 2023-01-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1677576/000110465923005522/0001104659-23-005522-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1677576/000110465923005522/tm233923d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-005522
- JSON: https://secwatch.observer/filing/0001104659-23-005522.json
- Plain text: https://secwatch.observer/filing/0001104659-23-005522.txt

## Key facts
- Material Agreements
  INNOVATIVE INDUSTRIAL PROPERTIES INC terminated Prior Sales Agreements with BTIG, LLC, Roth Capital Partners, LLC, Compass Point Research & Trading, LLC, Ladenburg Thalmann & Co. Inc. and Piper Sandler & Co. (effective 2023-01-19).
  - Action: termination
  - Agreement: atm program
  - Counterparty: BTIG, LLC, Roth Capital Partners, LLC, Compass Point Research & Trading, LLC, Ladenburg Thalmann & Co. Inc. and Piper Sandler & Co.
  - Effective: 2023-01-19
  source text: On January 19, 2023, Innovative Industrial Properties, Inc. (the “Company”) notified each of BTIG, LLC, Roth Capital Partners, LLC, Compass Point Research & Trading, LLC, Ladenburg Thalmann & Co. Inc. and Piper Sandler & Co. of its election to terminate each of the At-the-Market Sales Agreements, dated November 6, 2020, by and among the Company, IIP Operating Partnership, LP, a Delaware limited partnership (the “Operating Partnership”) and each of BTIG, LLC, Roth Capital Partners, LLC, Compass Point Research & Trading, LLC, Ladenburg Thalmann & Co. Inc. and Piper Sandler & Co. (together, the “Prior Sales Agreements”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1677576/000110465923005522/0001104659-23-005522-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.