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
$1.86B
Equity Capital Raised
153
# Equity Transactions
$3.18B
Debt Capital Raised
111
# Debt Transactions
$5.39B
M&A Transaction Value
183
# 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
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:
- Deals by Industry Sector (to track the flow of capital and M&A deals by one of 12 Sectors - from cultivation to brands to software)
- Deal Structure (equity/debt for capital raises, cash/stock/earnout for M&A)
- Principals to the Transaction (issuer/investor/lender/acquirer)
- Key Deal Terms (deal size, valuation, pricing, warrants, cost of capital)
- Deals by Location of Issuer/Buyer/Seller (to track the flow of capital and M&A deals by state and country)
- Credit Analysis (leverage and liquidity ratios)
DETAILED DESCRIPTION OF DATA SERVICES
Equity Deals
Provides weekly data and insight into Cannabis/CBD/Psychedelic industries equity issuances
Debt Deals
Provides weekly data and insight into Cannabis/CBD/Psychedelic industries debt issuances
M&A Deals
Provides weekly data and insight into Cannabis/CBD/Psychedelic industries M&A deals.
Valuation Tracker
Provides valuation analysis for over 370 public Cannabis/CBD/Psychedelic companies.
Credit Tracker
Provides credit/liquidity analysis and rankings for over 370 public cannabis/CBD companies.
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.
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.
Chart of the Week
Provides insight on the most influential trends from the past week in the Cannabis/CBD/Psychedelic industries.
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.
European
Deal Tracker
The European America Deal Tracker is a monthly report that includes all equity, debt, and M&A transactions that occurred in the region.
YTD Charts for Capital Raises
Consists of an overview of capital raise activity in the Cannabis/CBD/Psychedelic industries from the current year.
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:
- Equity Deals
- Debt Deals
- M&A Deals
- Valuation Tracker
- Credit Tracker
- Sector Tracker
- Regional Tracker
- Special Reports
- Chart of the Week
- YTD Charts for Capital Raises
- YTD Charts for M&A
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 11/25/22
Viridian Insights of the week
- SAFE Act Passing Remains a Coin Toss: The week’s big news is the seesaw of expectations regarding the SAFE act. On Monday, market confidence was riding high that the bill would be inserted into the defense authorization act legislation, one of the “must pass” bills left to be dealt with before Congress adjourns. Stock prices gapped up by double-digit percentages on Monday only to trade down a similar amount on Tuesday after Senate Republican Leader Mitch McConnell dashed hopes of the bill making it through the NDAA process. There is still some possibility that SAFE may be inserted into the year-end omnibus spending bill; however, this is not a bill that necessarily has to pass. McConnell said that he would not allow it in the omnibus bill, and the Democrats lack the votes to pass it on a standalone basis. Our confidence in the bill’s passage is significantly lower at around 50%.
- Cannabis Equity Valuation Multiples Increase While EBITDA Estimates Weaken: Cannabis equity valuation multiples have increased to levels last seen at year-end 2021, but the valuations are fragile and heavily tied to positive legislative action. Moreover, although multiples have increased, EBITDA estimates continue to weaken as the industry battles the twin issues of commoditization in wholesale prices and inflation-driven cost increases.
- Recession Signals in the 10-year / 3-month Spread: We have begun to use a different indicator of the inverted yield curve, the 10-year / 3-month spread. We switched to this indicator from the more widely followed 10-year / 2-year spread because it is the one that the FED uses and is more reflective of bank lending spreads. The current -43bp is not as extreme relative to history as the 2/10 spread but still indicates a potential tightening of lending activity and the likelihood of a recession.
- Companies Continue to Seek Debt Refinancing: Nearly every company we highlighted in October as having significant upcoming maturities has taken action to refinance its debt, except for AYR Wellness. (AYR: CSE). AYR’s maturity issue isn’t until 2024, so they still have plenty of time to refinance.
- M&A Activity On Decline While Companies Focus on Organic Growth: M&A activity has been scarce recently and this week marked the first time since Thanksgiving 2019 that two weeks went by without a single closed deal. We chalk that up to companies becoming more cautious in the acquisition and capital spending activity in the face of a tight capital market and adverse industry conditions. We have begun to use a different indicator of the inverted yield curve, the 10-year / 3-month spread. We switched to this indicator from the more widely followed 10-year / 2-year spread because it is the one that the FED uses and is more reflective of bank lending spreads. The current -43bp is not as extreme relative to history as the 2/10 spread but still indicates a potential tightening of lending activity and the likelihood of a recession.
Equity Deals For this week
This week there were two equity transactions, totaling to $8.33M. This was highlighted by PSYLO PTY (Private) closing a Seed Funding round for $5M.
Debt Deals For this week
This week there was one debt transaction, totaling $375.00M. This was highlighted by Verano Holdings (VRNO: CSE), the fourth largest U.S. MSO by market cap, completed a $350M refinancing of its existing credit line.
M&A Deals for this Week
This week there were three transactions, totaling $27.36M This was highlighted by High Tide Inc. (HITI: Nasdaq) confirmed that it had closed its previously announced acquisition of Jimmy’s Cannabis Shop BC. The purchase includes two retail locations in Prince George and Cranbrook, BC.
Viridian Valuation Tracker
This week’s valuation tracker focuses on the twenty-seven U.S. Cultivation & Retail companies in the Viridian Value Tracker database with market caps under $100M.
Viridian Credit Tracker
This week’s credit tracker focuses on the sixteen U.S. Cultivation & Retail sector companies in the Viridian Value Tracker database with market caps over $100M.
Viridian Sector Deal Tracker
This week’s Viridian Industry Sector Tracker highlights Psychedelics, an industry that has recently seen a rise in the total number of capital raises YTD.
Viridian Regional Deal Tracker
Illinois increased its hold as the third largest state for capital raises through the Verano $350M refinancing debt deal which is the largest debt YTD.
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.
European Deal Tracker
The Europe America Deal Tracker is a monthly report that includes all equity, debt, and M&A transactions that occurred in the region. The European Deal Tracker also gives a transactions review and year over year trends.
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.
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.
