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 07/04/2025

Week ended 07/04/2025

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Equity Commentary

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.

Week ended 07/04/2025

Equity Raises:

  • On June 30, 2025, Cel Ai PLC (CLAI: LSE), a British company engaged in the provision of consumer products based on biosynthetic cannabinoids, whose products include skincare and topical athletic recovery products, completed a private placement of common shares for gross proceeds of $13.7M.
  • Five billion shares were sold for $0.0027 per share.
  • The proceeds of the issue will be used to acquire BTC and fund ongoing operations. The company’s Chairperson remarked that “This funding provides us with the resources to continue growing our core business and delivering on the opportunities ahead. At the same time, introducing a bitcoin treasury approach will enable us to take a forward-thinking stance on capital management.”
  • Apparently, one man’s investment is another man’s speculation. The company increased its market cap by more than 7.5 times with this issue, which is, in itself, an unusually bold move. However, investing it in Bitcoin seems bizarre to us. After all, if prospective shareholders wanted to invest in bitcoin, rather than a cannabinoid product company, wouldn’t it be simpler to do so directly?

Public vs. Private Raises: 

  • The only capital raiser of the week was a public company that trades on the London Stock Exchange.

Equity vs. Debt Cap Raises:

  • Debt accounted for 93% of trailing 8-week capital raises. The ratio may go down if companies are able to utilize favorable regulatory-induced stock price increases to complete equity issues. However, equity pricing has remained stubbornly low while the cannabis debt capital markets have reopened.

Week ended 07/04/2025

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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.

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.   

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.