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 10/20/2023
Week ended 10/20/2023
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Equity Commentary
Week ended 10/20/2023
- The Week’s Most Interesting Closed Equity Deal
- On October 20, 2023, Innocan Pharma Corp. (INNO: CSE)(INNPF: OTCQX), an Israeli pharmaceutical company focused on the development of drug delivery platforms combining cannabidiol with other pharmaceutical ingredients, closed the second and final tranche of its previously announced private placement of 4M units at $0.88 for total gross proceeds of $0.88M.
- The transaction increased the share count by 1.5% and was priced at a 34% discount to pre-announcement levels.
- The deal implies a $48M market cap, a $43M EV, and an EV/annualized Rev of 3.48x, a significant discount from the median of 6.8x for the six non-North American Biotech/Pharma companies in the Viridian Value Tracker database.
Public vs. Private Raises:
- Three of the week’s five capital raisers are public companies. Each trades in Canada on the CSE and in the U.S. on OTC.
Equity vs. Debt Cap Raises:
- Equity accounted for 4.0% of the week’s capital raised.
Week ended 10/20/2023
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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 10/20/2023
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 10/20/2023
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.