Cannabis REIT files to be listed on NYSE
A cannabis-focused real estate investment trust has filed to list its shares on the New York Stock Exchange.
If approved, it would be the first marijuana-related company to list on the Big Board.
Innovative Industrial Properties, headquartered in San Diego but incorporated in Maryland, filed documents with the Securities and Exchange Commission on Monday saying it plans to sell 8.75 million shares at $20 per share, according to Forbes. New Cannabis Ventures first reported the story.
The offering would value the company at $200 million.
The company’s first tenant is PharmaCann, which has marijuana business operations in Illinois and