---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-073013"
form_type: "8-K"
ticker: "IIPR"
cik: "0001677576"
company_name: "INNOVATIVE INDUSTRIAL PROPERTIES INC"
filed_at: "2026-06-11T21:17:34+00:00"
generated_at: "2026-06-11T21:20:39.485473+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# IIPR prices upsized $350M exchangeable notes; repays $282M senior notes due 2026

## Summary
- Priced $350M aggregate principal 6% exchangeable senior notes due 2029, upsized from $250M; initial exchange price ~$69.39.
- Initial purchasers granted 13-day option for additional $52.5M; total aggregate principal amount $402.5M if fully exercised.
- Intends to use up to $80.5M of net proceeds to repurchase common stock from note purchasers in private transactions.
- On May 26, 2026, fully repaid $282M of 5.50% Senior Notes due 2026.
- From Apr 1 to Jun 1, 2026, sold 680,842 common shares for ~$34.8M and 948,034 preferred shares for ~$20.9M under ATM program.

## SEC filing metadata
- accession: 0001104659-26-073013
- form_type: 8-K
- ticker: IIPR
- cik: 0001677576
- company_name: INNOVATIVE INDUSTRIAL PROPERTIES INC
- filed_at: 2026-06-11T21:17:34+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1677576/000110465926073013/0001104659-26-073013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1677576/000110465926073013/tm2617694d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-073013
- JSON: https://secwatch.observer/filing/0001104659-26-073013.json
- Plain text: https://secwatch.observer/filing/0001104659-26-073013.txt

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