1,348,389 Shares Innovative Industrial Properties, Inc. Common Stock UNDERWRITING AGREEMENTUnderwriting Agreement • May 29th, 2020 • Innovative Industrial Properties Inc • Real estate • New York
Innovative Industrial Properties, Inc., a Maryland corporation (the “Company”), and IIP Operating Partnership, LP, a Delaware limited partnership and the Company’s operating partnership (the “Operating Partnership”), confirm their respective agreements (this “Agreement”) with BTIG, LLC ( the “Underwriter,”), with respect to (i) the sale by the Company and the purchase by the Underwriter of the number of shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), set forth in Schedule I, and (ii) the grant by the Company to the Underwriter of the option to purchase up to 202,259 additional shares of Common Stock on the terms set forth in Section 2(b). The aforesaid 1,348,389 shares of Common Stock (the “Initial Securities”) to be purchased by the Underwriter and all or any part of the 202,259 shares of Common Stock subject to the option described in Section 2(b) hereof (the “Option Securities”) are herein called, collectively, the “Securities.”
