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 01/06/2023

Week ended 01/06/2023

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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 01/06/2023

The Week’s Largest Closed Equity Transaction:

  • On January 4, 2023, Atlas Global Brands (expected symbol ATL: CSE) completed a 100,000 share issuance of stock in its Cambrosia subsidiary for approximately US$2.55M.
    • Concurrent with the capital raise, Atlas completed an RTO and business combination of Atlas Biotech (a licensed cultivator and processor in Canada), AgMedica (an EU-GMP certified processor and exporter of cannabis flower and oil), and Cambrosia (an Israel-based group with owned pharmaceutical distribution).
    • The combined companies formed a vertically integrated unit that serves eight countries.
    • According to filed Form 2A, the combined companies had a proforma EBITDA for the nine months ended 9/30/22 of approximately negative C$7.4M. However, this gives no effect to synergies from internal sourcing of biomass or the potential to significantly increase exports to Israel.
    • We believe reasonable valuation analysis needs to be deferred until the combined company begins trading on the CSE next week.

           

Public vs. Private Raises: 

  • One of this week’s two capital-raising companies will begin trading on the CSE on January 15, 2023.

Equity vs. Debt Cap Raises: 

  • Equity accounted for all of this week’s capital raises.

Week ended 01/06/2023

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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.

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.   

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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.