Innovative Industrial Properties to Reclassify All Shares of Class A & Class B Common Stock into a Single Class of Common Stock
25 1월 2017 - 7:10AM
Business Wire
Innovative Industrial Properties, Inc. (NYSE: IIPR) (the
“Company”) announced today that it will reclassify all outstanding
shares of Class A common stock and Class B common stock into a
single class of common stock on a one-for-one basis. There are no
shares of Class B common stock outstanding, as all shares of Class
B common stock were redeemed by the Company for $0.001 per share
(par value) immediately prior to the Company's initial public
offering in December 2016.
To implement the reclassification, the Company plans to file an
amended and restated charter with the Secretary of State of the
State of Maryland, which the Company expects to become effective at
5:00 pm Eastern Time on January 26, 2017. Upon the effectiveness of
the amended and restated charter, each share of the Company's
outstanding Class A common stock and Class B common stock will be
automatically reclassified as, and become one share of, a new
single class of common stock named "common stock" that has the same
voting powers, preferences, rights and qualifications, limitations
and restrictions as the current Class A common stock.
Trading in the Class A common stock is expected to cease after
the markets close on January 26, 2017 and trading in the Company's
single class of common stock is expected to commence on January 27,
2017. There will be no change in the ticker symbol or CUSIP number
for the current Class A common stock being converted to common
stock.
About Innovative Industrial
Properties
Innovative Industrial Properties, Inc. is a self-advised
Maryland corporation focused on the acquisition, ownership and
management of specialized industrial properties leased to
experienced, state-licensed operators for their regulated
medical-use cannabis facilities. Innovative Industrial Properties
intends to elect to be taxed as a real estate investment trust.
Additional information is available at
www.innovativeindustrialproperties.com.
Forward-Looking
Statements
This press release contains statements that we believe to be
“forward-looking statements” within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
All statements other than historical facts are forward-looking
statements, including, without limitation, the Company's plans and
expectations regarding the reclassification of its Class A common
stock and Class B common stock into a single class of common stock.
When used in this press release, words such as we “expect,”
“intend,” “plan,” “estimate,” “anticipate,” “believe” or “should”
or the negative thereof or similar terminology are generally
intended to identify forward-looking statements. Such
forward-looking statements are subject to risks and uncertainties
that could cause actual results to differ materially from those
expressed in, or implied by, such statements. Investors should not
place undue reliance upon forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20170124006267/en/
Innovative Industrial Properties, Inc.Paul SmithersChief
Executive Officer(858) 997-3332
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