Our 8th year of providing proprietary cannabis capital markets intelligence

Viridian Cannabis Deal Tracker

Viridian Data Analytics

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

Cannabis Deals

Trailing Twelve Months

$7.15B

Equity Capital Raised

335

# Equity Transactions

$5.64B

Debt Capital Raised

119

# Debt Transactions

$25.04B

M&A Transaction Value

255

# M&A Transactions

Testimonials

“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

“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

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 industry. 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 industry equity issuances

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Debt Deals

Provides weekly data and insight into cannabis industry debt issuance

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M&A Deals

Provides weekly data and insight into cannabis industry M&A deals

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Valuation Tracker

Provides deep valuation metrics and rankings for over 350 public cannabis/CBD companies

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Credit Tracker

Provides credit/liquidity analysis and rankings for over 350 public cannabis/CBD companies

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

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Special Reports

Update reports (quarterly, annually), topical reports, customized research for companies, acquirers, and investors

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Chart of the Week

Provides insight on the most influential trends from the past week in the cannabis industry

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YTD Charts for Capital Raises

Consists of an overview of the capital raise activity in the cannabis industry 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 industry 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

The Viridian Cannabis Credit Tracker is the first of its kind in the cannabis industry. The Credit Tracker includes a proprietary credit ranking system for cannabis companies based on a company’s liquidity, leverage, profitability, and size.

Viridian Cannabis Deal tracker for the week of 4/25 - 4/29

Viridian Insights of the week

  1. The MSOS ETF had its 3rd worst week since its debut in September 2020, hitting all time lows as hopes for 2022 legalization fade away.
  2. The M&A market continues to be quite strong, especially in comparison with cannabis capital raises which are now off 66% YTD
  3. The Tier One MSOs were one of the worst performing sectors of the week and the 2nd worst performing sector YTD. Our graph detailing the performance of 11 different sectors is featured in this week’s tracker
  4. We continue to expect more significant consolidation in the U.S. Cultivation & Retail sector. Second tier operators such as Jushi (CSE: JUSH), Planet 13 (CSE: PLTH), AYR (CSE: AYR-A), and 4Front (CSE: FFNT) may feel additional pressure to scale up through merger of equals or alignment with a larger MSO.  Our analysis of the debt deal by Cansortium leads us to believe its investor is banking on some type of dramatic improvement in the stock.
  5. We analyzed the Beta of the MSOS ETF and found that its performance is closely (61%) correlated with price movement in the S&P 500, contrary to the believe of many market participants. The beta of the ETF is calculated at approximately 1.91

Equity Deals For this week

This week there was 3 equity transactions, totaling to $22.98M. Highlighted by Akanda Corp. equity issuance of $16M.

Debt Deals For this week

This week there were 2 debt transactions, totaling to $91.2M. Highlighted by Royal Agrify Corporation’s debt issuance of $65.0M.

M&A Deals for this Week

This week there were 3 mergers & acquisitions, totaling to $892 M. Highlighted by acquiror Demand Brands deal with CF3 SPV valued at $550M.

Viridian Valuation Tracker

The Viridian Cannabis Valuation Tracker includes current and forward valuation multiples for companies being highlighted for the week.

Viridian Credit Tracker

The Viridian Credit Tracker is the first of its kind in the cannabis industry. Each week’s tracker ranks a highlighted subset of companies according to a proprietary credit model that utilizes eleven custom financial and market variables to evaluate credit quality.

Viridian Sector Tracker

This week’s Viridian Sector Tracker includes the number of capital raises, total capital raised, number of M&A deals, and total M&A consideration for each of Viridian’s 13 proprietary sector allocations.

Viridian Regional Deal Tracker

This week’s Viridian Regional Deal Tracker allocates each cannabis transaction by the region they occurred (US or International) in order to track the flow of capital and M&A around the industry.

Special Reports

The most recent analysis from Viridian’s team of analysts provides insight and data into the past year’s cannabis industry trends.

Chart of the Week

Viridian’s Chart of the Week presents actionable market intelligence for investors, cannabis companies, and acquirers

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 industry. 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 industry. 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 mergers & acquisitions in the cannabis industry. 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.

  • It allows users to filter a database of over 370 companies by sector, size, location and other financial variables.
  • 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, giving users a more complete view of how companies in the cohort group are valued. 

Viridian Credit Tracker

The Credit Tracker is a new data service Viridian has developed; it provides credit/liquidity analysis for over 370 public Cannabis/Hemp companies. Viridian has seen the lack of Credit analysis in the cannabis industry, which is why we have created a set of the most relevant cannabis credit ratios. Viridian has re-imagined credit quality from first principles to arrive at a set of cannabis-customized financial statement and market-based measures for credit quality. 

Viridian Cannabis Sector Tracker Description

The Viridian Regional 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.

Since the Tracker’s inception in 2015, Cultivation & Retail has been the largest subsector however, recently we have tracked and increase in activity in Agriculture Technology, Software and Infused Products & Extracts.

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 a clear view of where capital is being allocated.

Special Reports

Throughout the year, Viridian produces a series of comprehensive reports including semiannual summaries of the key cannabis capital market trends. Reports include semi-annual and annual market overviews, with other report topics created based on industry trends. No other data companies have the resources or experience to create such a comprehensive and actionable report for the cannabis industry.

CHART OF THE WEEK​

The Chart of the Week is created based on weekly trends in the cannabis capital markets. Weekly trends include: Equity raises, Debt raises, M&A deals, and other market activities.

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.