---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-115864"
form_type: "8-K"
ticker: "IIPR"
cik: "0001677576"
company_name: "INNOVATIVE INDUSTRIAL PROPERTIES INC"
filed_at: "2026-10-14T20:46:55+00:00"
generated_at: "2026-10-14T20:48:04.672092+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# IIPR prices $50M offering of 9.25% Series B preferred at $25.00 per share

## Summary
- 2,000,000 shares of 9.25% Series B Cumulative Redeemable Preferred priced at $25.00; 30-day option for 300,000 additional shares.
- Net proceeds expected ~$48.4M after underwriting discount; offering expected to close on or about October 19, 2026.
- Articles Supplementary filed with Maryland on October 13, 2026 designated 2,300,000 authorized preferred shares as Series B; $25.00 liquidation preference.
- Stifel, Nicolaus & Company, Incorporated acts as representative of the underwriters under an October 8, 2026 underwriting agreement.
- If Series B distributions go undeclared, IIPR's ability to pay distributions on or redeem junior/parity stock is restricted.

## SEC filing metadata
- accession: 0001104659-26-115864
- form_type: 8-K
- ticker: IIPR
- cik: 0001677576
- company_name: INNOVATIVE INDUSTRIAL PROPERTIES INC
- filed_at: 2026-10-14T20:46:55+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 1.01, 3.03, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1677576/000110465926115864/0001104659-26-115864-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1677576/000110465926115864/tm2627350d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-115864
- JSON: https://secwatch.observer/filing/0001104659-26-115864.json
- Plain text: https://secwatch.observer/filing/0001104659-26-115864.txt

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