Company: IIPR
Filing Date: 2025-02-21
Form Type: S-3ASR
Source: 0001104659-25-016184
Chunk: 113

Company: INNOVATIVE INDUSTRIAL PROPERTIES INC
Filing Date: 2025-02-21
Form: S-3ASR
Chunk 113
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 the following communications, the undersigned     
 registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:                 |

| (i) | Any preliminary prospectus or prospectus of the registrant          
 relating to the offering required to be filed pursuant to Rule 424; |

| (ii) | Any free writing prospectus relating to the offering                                             
 prepared by or on behalf of the undersigned registrant or used or referred to by the registrant; |

| (iii) | The portion of any other free writing prospectus relating                                                                          
 to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the 
 undersigned registrant; and                                                                                                        |

| (iv) | Any other communication that is an offer in the offering 
 made by the registrant to the purchaser.                 |

| (b) | The undersigned registrant hereby undertakes that,                                                                                
 for purposes of determining any liability under the Securities Act, each filing of the registrant’s annual report pursuant        
 to Section 13(a) or Section 15(d) of the Securities Exchange Act (and, where applicable, each filing of an employee               
 benefit plan’s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in                  
 the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the 
 offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.                            |

| (c) | Insofar as indemnification for liabilities                                                                                              
 arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the      
 foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission       
 such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim       
 for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director,      
 officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such        
 director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion  
 of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether 
 such indemnification by it is against public policy as expressed