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 01/20/2023
Week ended 01/20/2023
This Section is Only Available to Higher Tier Memberships
Please Purchase a Premium or Enterprise membership to see more.
Equity Commentary
Week ended 01/20/2023
The Week’s Only Closed Equity Transaction:
- On January 19, 2023, Mydecine Innovations Group (MYCO: NEO)(MYCOF: OTC), which focuses on next-generation psychedelic medicine discovery and development, completed a $3.7M common stock offering to a single investor in connection with its previously announced Subscription Agreement.
- Mydecine sold 10.75M shares at $.34 per share.
- The transaction implies a market cap of approximately $4.2M and an enterprise value of $7.9M.
- Proceeds will fund the development of IP, clinical trials, the development of the drug pipeline, and general working capital.
- Proforma for the transaction, Mydecine will have a debt-to-market cap of approximately .89x, towards the high side for the psychedelics sector. Moreover, the raise is not large enough to assure Mydecine’s liquidity. Viridian’s proforma free cash flow adjusted current ratio will be approximately.69x, indicating a likely need for additional funding during the year.
- MYCO underperformed the psychedelic group in Q4 2022 but has recovered based on the achievement of funding.
Public vs. Private Raises:
- This week’s only capital raise is a public company that trades on the NEO in Canada and the OTC in the U.S.
Equity vs. Debt Cap Raises:
- Equity accounted for all of this week’s capital raises.
Week ended 01/20/2023
Additional content is available to Premium and Enterprise users. Please purchase a higher tier membership to see more.
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 01/20/2023
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 01/20/2023
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.