OUR 8TH YEAR OF PROVIDING PROPRIETARY CAPITAL MARKETS INTELLIGENCE ON THE CANNABIS / CBD / PSYCHEDELIC SECTORS

Viridian Cannabis Deal Tracker

Viridian Data Analytics

The Market Intelligence on Cannabis/CBD/Psychedelic Capital Raise and M&A Transactions Used by Companies, Investors, Acquirers and Advisors to Make Informed Capital Allocation and M&A Decisions

Cannabis/CBD/Psychedelic Deals

Trailing Twelve Months

$2.60B

Equity Capital Raised

190

# Equity Transactions

$4.09B

Debt Capital Raised

129

# Debt Transactions

$7.60B

M&A Transaction Value

204

# M&A Transactions

Testimonials

Viridian has collected and aggregated the world’s largest database of cannabis deals.” – Benzinga

 

“The Viridian team was by our side throughout the capital raise process and helped us source and negotiate the optimal debt financing. The market intelligence they gave us using information from the Viridian Cannabis Deal Tracker was instrumental in negotiating the best transaction.” – Ryan Jenneman, THC Design CEO

 

“We especially want to thank the team at Viridian Capital for their sage counsel on valuation and deal structures throughout the M&A process that helped guide us to a successful close.”  — Jordan Weiss, CEO, Green Coast Hydroponics

 
“We thank Scott Greiper and his team at Viridian Capital for their guidance and perseverance in completing our Series A and Series B financings.  The utilization of data from the Viridian Cannabis Deal Tracker guided us in understanding our value in the market and the optimal deal structure for our company.” – Morris Denton, Texas Original CEO

 

Viridian Cannabis Deal Tracker

Launched in January 2015, and having analyzed more than $60B in deals, the Viridian Cannabis Deal Tracker is a proprietary data service that monitors and analyzes capital raise and M&A activity in the legal Cannabis/CBD/Psychedelics industries. Each week the Deal Tracker provides proprietary data and market intelligence on transactions, including:

DETAILED DESCRIPTION OF DATA SERVICES

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Equity Deals

Provides weekly data and insight into Cannabis/CBD/Psychedelic industries equity issuances

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Debt Deals

Provides weekly data and insight into Cannabis/CBD/Psychedelic industries debt issuances

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M&A Deals

Provides weekly data and insight into Cannabis/CBD/Psychedelic industries M&A deals.

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Valuation Tracker

Provides valuation analysis for over 370 public Cannabis/CBD/Psychedelic companies.

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Credit Tracker

Provides credit/liquidity analysis and rankings for over 370 public cannabis/CBD companies

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Industry Sector Tracker

Analyzes transactions by industry sector in order to track the flow of capital and M&A across 12 industry sectors – from cultivation to brands to software

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Regional Tracker

Analyzes deals by location of issuer/seller in order to track the flow of capital and M&A deals by state and country

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LATin america deal tracker

The Latin America Deal Tracker is a monthly report that includes all equity, debt, and M&A transactions that occurred in the region.

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Chart of the Week

Provides insight on the most influential trends from the past week in the Cannabis/CBD/Psychedelic industries

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YTD Charts for Capital Raises

Consists of an overview of  capital raise activity in the Cannabis/CBD/Psychedelic industries from the current year

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YTD Charts
for M&A

Consists of an overview of the M&A activity in the Cannabis/CBD/Psychedelic industries from the current year

Viridian Capital Advisors Offers unique propriety data services including:

Examples of our data, analytics, and market intelligence

Equity Deal Tracker

The Equity Deal Tracker includes a weekly analysis of equity issuance. Data includes issuer specific information, deal size, pricing, share information, deal implied valuation information, and warrant information.

M&A Deal Tracker

The M&A Deal Tracker includes a weekly analysis of mergers & acquisitions in the cannabis industry. Weekly data on deals includes the acquiror and target information, deal size, type of deal, structure, and valuation information.

Credit Tracker

When it comes to credit ratings for Cannabis/CBD/Psychedelic companies, many investors, acquirers, and lenders have been left in the dark with a lack of information. With Viridian’s data and market intelligence, that is no longer the case. The Viridian Cannabis Credit Tracker is the first of its kind, providing users with a proprietary credit ranking system for companies based on a company’s liquidity, leverage, profitability, and size.

Viridian Cannabis Deal tracker for the week ended 9/9/22

Viridian Insights of the week

  • MSOS vs S&P 500: Cannabis equity prices, as measured by the MSOS ETF, were down 12.03% this week. The market is adjusting to the fact that margins are unlikely to bounce back soon, and the risk of a hard landing has gone ups significantly
  • Market Outlook: The FED bumped up interest rates by .75% as expected today but the DOW took no comfort, trading down 522 points. We included a yield curve chart from the Federal Reserve Bank of St Louis in this weeks tracker showing an increase in the curve’s inversion. The closely watched 2-10 year spread has predicted all of the last six recessions.
  • What’s Happening with Cannabis Margins?: Our outlook is cautious as we see cannabis margins erode in the near term. Cannabis wholesale prices are weak in nearly every market without cultivation limits. Additionally, legal cannabis producers face a built-in lower-cost substitute in the illicit market, and the heavily fixed-cost nature of indoor cannabis production exacerbates the downward pressures. Inflation is likely to be more challenging than expected to tame, and escalating costs and a pressured consumer round out the industry’s near-term issues.
  • What Investors Are Looking At: Investors have been closely reviewing the companies’ liquidity in their portfolios. We expect to see additional stressed financings like LOWL Farms (LOWL: CSE), a debt issue with effective costs over 30%.
  • Trend Of The Week: We are seeing an increase in credit restructurings like this weeks agreement from Red White and Bloom (RWB: CSE). Interestingly, one of the lessons from highyield bonds is that defaults tend to increase as the market begins to recover! The ride is just beginning.

Equity Deals For this week

This week there two equity transactions, totaling to $11.0M. This was highlighted by Bright Green Corp.  (BRXX: Nasdaq),  a company operating under a Memorandum of Understanding with the DEA to produce and sell federally legal cannabis,  announced the closing of a PIPE issuance of units for gross proceeds of approximately $10M.

Debt Deals For this week

This week there two debt transaction, totaling $14.50. This was highlighted by  Trees Corp (TREES: NEO)(CANN: OTCQB), an MSO with operations in Colorado and Oregon,  closed a $13.5M Senior Secured Convertible Note offering with warrants.

M&A Deals for this Week

This week there was only one M&A transactions, totaling $8.82M.  This was led by  Glass House Brands (GLASF: OTCQX), an integrated California cannabis competitor best known for its mammoth greenhouse grow facility, announced the closing of the acquisition of the Natural Healing Center dispensaries located in Morrow Bay, California, for total consideration of $8.82M.

Viridian Valuation Tracker

The Viridian Cannabis Valuation Tracker focused on the 8 Cultivation & Retail sector companies in the Viridian Value Tracker database with market caps between $100M and $300M.

Viridian Credit Tracker

The Viridian Credit Tracker focused on the 13 U.S. Cultivation & Retail sector companies with market caps between $10M and $100M in the Viridian Credit Tracker database.

Viridian Sector Deal Tracker

This week’s Viridian Industry Sector Tracker highlights Cultivation & Retail, but shows that the sectors dominance has declined over the past few months.

Viridian Regional Deal Tracker

This week’s Viridian Regional Deal Tracker shows that Arizona, New York, and California have the top three total M&A values in the LTM period.

Latin america deal tracker

The Latin America Deal Tracker is a monthly report that includes all equity, debt, and m&a transactions that occurred in the region. The LATAM deal tracker also gives a transactions review and year over year trends. 

Chart of the Week

Viridian’s Chart of the Week tracks the rotation of M&A transactions by state, referencing the data from the Viridian Regional Deal Tracker.

YTD Charts for Capital Raises

The YTD charts provide data and insights into the public vs. private capital raises for the current year, total number and dollar amount of capital raises each week, and capital raises by sector.

YTD Charts for M&A

The YTD charts provide data and insights into the public vs. private mergers & acquisitions for the current year, total number and transaction value of M&A deals by week, and M&A deals by sector.

Equity Capital Raises

Viridian publishes weekly data and insights on equity capital raises in the Cannabis/CBD/Psychedelic industries. This data includes information about the company issuing equity, deal size, pricing, share information, deal implied valuation, and warrants.

Debt Capital Raises

Viridian publishes weekly data and insights on debt capital raises in the Cannabis/CBD/Psychedelic industries. This data includes information about the company issuing debt, deal size, pricing, warrants, and credit data.

M&A Deals

Viridian publishes weekly data and insights on M&A in the Cannabis/CBD/Psychedelic industries. This data includes information about the acquiring company, type of deal, consideration, target company, and valuation metrics.

Viridian Cannabis Valuation Tracker

The Viridian Value Tracker is the most comprehensive valuation product in the industry.

  • A broad set of 12 valuation measures assures applicability, regardless of whether the company has analyst coverage or revenues.  The typically presented EV/ Projected Revenues and EV/ Projected EBITDA are available for less than 1/3 of cannabis companies we track.
  • Most valuation studies present only the average valuation measures, while the Tracker goes one step further and shows the distribution of values (the quartiles, median, and dispersion) for each measure. This gives users a more complete view of how companies in the cohort group are valued.

Viridian Credit Tracker

Credit ratings are not currently available for public cannabis companies leaving companies, lenders and investors with a gap of information. The Viridian Cannabis Credit Tracker fills this gap. The model uses 11 market and financial statement variables to discern 4 key credit factors: Liquidity, Leverage, Profitability, and Size, to provide credit/liquidity analysis for over 370 public Cannabis/Hemp companies.

Viridian Cannabis Sector Tracker Description

The Viridian Sector Tracker is the premier resource to follow the movement of capital and M&A by sector. Viridian Capital Advisors partitions the cannabis universe into 12 subsectors and each week we follow the transactions that occur in each of these subsectors, giving investors the ability to spot sector rotations early. 

Viridian Cannabis Regional Tracker Description

The Viridian Cannabis Regional Tracker is the premier resource to follow the movement of capital and M&A by location.

Cannabis industry capital raises and M&A activity are shifting. Newly legalized states in the Central and Northeast have become the focus of an increasing amount of capital deployment to fund new cultivation capacity and new dispensaries. MSOs are often finding it more advantageous to build scale in new states through acquisition rather than internal build, leading to a similar shift in M&A activity.

The Regional Tracker gives investors/sellers and acquisitors being targeted a clear view of where capital is being allocated.

Latin America Deal Tracker

The Latin America Deal Tracker is a monthly report that includes all equity, debt, and m&a transactions that occurred in the region. 

CHART OF THE WEEK​

The Viridian Capital Chart of the Week highlights key investment, valuation and M&A trends taken from that week’s Deal Tracker that we believe are impactful for investors, companies and acquirers. 

YTD CHARTS FOR CAPITAL RAISES

The YTD Charts for Capital Raises includes a detailed breakdown of capital raises in the cannabis industry year to date. Charts include a breakdown between Public and Private Capital raises, Equity & Debt raises, and Capital raises by sector.

YTD CHARTS FOR M&A​

Year to Date Charts for M&A includes a detailed breakdown of Mergers and Acquisitions for the current year. Charts break deal data between public and private deal makers and sectors.