OUR 9TH YEAR OF PROVIDING PROPRIETARY CAPITAL MARKETS INTELLIGENCE ON THE CANNABIS / HEMP / PSYCHEDELIC SECTORS
Equity Capital Raises
Equity Transaction Chart
Viridian publishes weekly data on equity capital raises in the Cannabis/CBD/Psychedelic industries. This data includes information about the company issuing equity (public/private, state/country location), deal size, deal structure, pricing, share information, deal implied valuation, and warrant information.
Week ended 03/15/2024
Week ended 03/15/2024
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Equity Commentary
Week ended 03/15/2024
- The Week’s Closed Equity Deals
- On March 11, 2024, Skye Bioscience (SKYE: OTCQB), a clinical-stage biotech company focused on the discovery, development, and commercialization of drugs that modulate the endocannabinoid system, closed a PIPE transaction selling 4M shares for gross proceeds of $40M.
- The transaction implied a market cap of $199M and an enterprise value of $181M.
- Proforma liquidity is strong with a free cash flow adjusted current ratio of 2.85x
- Proceeds will fund the development of the company’s nimacimab drug for obesity.
- Investors included Perceptive Advisors, Velan Capital, and Schonfeld Strategic Advisors.
Public vs. Private Raises:
- Three of this week’s capital raisers are public companies that trade in Canada on the CSE and the U.S. on OTC.
Equity vs. Debt Cap Raises:
- Equity accounted for all of this week’s funds raised.
Week ended 03/15/2024
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Weekly Valuation Tracker
Viridian highlights a specific industry sector and provides a deep dive into valuation metrics and comparable company valuations for public companies operating in that sector. The Weekly Valuation Tracker provides proprietary, actionable valuation data.
- Week ended 03/15/2024
This week’s valuation tracker focuses on the 7 U.S. MSOs with market cap over $500M in the Viridian Value Tracker database in gauge the valuation impact of the 2nd earnings that have been released so far, Green Thumb (GTII: CSE), Curaleaf (CURA: CSE), and Trulieve.
- Week ended 03/15/2024
This Chart is Only Available to Higher Tier Memberships
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Additional content is available to Premium and Enterprise users. Please purchase a higher tier membership to see more.
This Chart is Only Available to Higher Tier Memberships
Please Purchase a Premium or Enterprise membership to see more.
Viridian publishes weekly insights on equity capital raises in the Cannabis/CBD/Psychedelic industries. These insights typically highlight the most interesting/meaningful equity transactions of that week, and commentary on market conditions, equity deal structures and investor groups.