NYSE lists first marijuana-related company

A company that plans to buy industrial properties and lease them to medical marijuana cultivators in states that have legalized medical cannabis went public on the New York Stock Exchange.

Real real estate investment trust Innovative Industrial Properties was approved by the Securities and Exchange Commission, according to a filing effective Wednesday. That makes Innovative Industrial Properties the first marijuana-related company to go live on the NYSE.

The company is offering 3.4 million shares for $67 million.

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