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 03/10/2023
Week ended 03/10/2023
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Equity Commentary
Week ended 03/10/2023
The Week’s Largest Closed Equity Transaction:
- On March 7, 2023, Xebra Brands Ltd (XBRA: CSE)(XBRAF: OTCQB, a British Columbia-based producer of cannabis-infused beverages, closed a $659K private placement of units.
- 15M units were sold at approximately $.04 per unit. Each unit has one common share and one 18-month warrant with a 66% exercise premium.
- The net share price was a 43% discount to the preannouncement share price, consistent with the 38% increase in total shares outstanding before any warrant exercise.
- The issue implied a market cap and enterprise value of $2.32M and $1.44M, respectively. The share price tripled on heavy volume directly after the issue, and current market cap and enterprise values are $8.7M and $8.5M. Valuation metrics are not meaningful given the company’s startup status (LTM revenues were approximately $60k).
Public vs. Private Raises:
- All three of this week’s capital-raising companies are public. Three trade in the U.S. on OTC, one trades on the Australian exchange and two trade in Canada on the CSE.
Equity vs. Debt Cap Raises:
- Equity accounted for 33% of the capital raises this week.
Week ended 03/10/2023
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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 03/10/2023
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 03/10/2023
This Chart is Only Available to Higher Tier Memberships
Please Purchase a Premium or Enterprise membership to see more.
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.