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Innovative Industrial Properties, a cannabis-focused real estate investment trust, said it won preliminary approval to list its shares on the New York Stock Exchange, which would make it the first marijuana-related company to secure a Big Board listing.
The company, headquartered in San Diego but incorporated in Maryland, had filed with the NYSE last month to seek a public listing.
Innovative Industrial Properties, which buys medical marijuana-related facilities and leases them, signaled this week in a Securities and Exchange Commission filing it expects to win final approval from the Big Board.
“We have been approved to list