Transaction Information
New Canaan, CT - NewLake Capital Partners, Inc. (OTCQX:NLCP) (the "Company"), a leading provider of real estate capital to state-licensed cannabis operators, announced that it has closed its initial public offering of 3,905,950 shares of common stock at an initial public offering price of $26.00 per share for gross proceeds of approximately $101.6 million before deducting fees and offering expenses. The net proceeds from the offering will primarily be used to provide real estate capital to state-licensed cannabis operators through sale-leaseback transactions, third-party purchases and funding for build-to-suit projects.
The stock is listed on the OTCQX® Best Market operated by OTC Markets Group, Inc. (the "OTCQX") under the symbol NLCP. Ladenburg Thalmann acted as Lead Bookrunner.
About NewLake Capital Partners Inc.
NewLake Capital Partners is an internally managed triple-net lease REIT that purchases properties leased to state-licensed U.S. cannabis operators. As of June 30, 2021, NewLake currently owns a geographically diversified portfolio of 27 properties across 10 states with 8 tenants, comprised of 17 dispensaries and 10 cultivation facilities. The Company's tenants include what the Company believes to be some of the leading and most well-capitalized companies in the cannabis industry, such as Curaleaf, Cresco Labs, Trulieve and Columbia Care. As of June 30, 2021, these properties were 100% leased and primarily located in limited-license jurisdictions.
The information and material presented is provided for informational purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or buy any securities mentioned herein.