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 11/18/2022

Week ended 11/18/2022

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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 11/18/2022

The Week’s Largest Closed Equity Transaction:

  • On November 15, 2022, Clearmind Medicine (CMND: Nasdaq), a pre-clinical psychedelics company focusing on treatments for alcohol use disorders (“AUDs,” announced the closing of a $7.5M public offering and uplisting to Nasdaq.
    • CMND issued approximately 1.3M shares at $6.50 per share, an increase in shares outstanding of about 87%.
    • The transaction values CMND at approximately $16.1M, although the company’s shares have traded off by about 30.7% since the issue.
    • Psychedelic companies are seeing an influx of equity capital.

           

 

Public Company Raises: 

  • Two of the five companies that raised capital this week were public. One trades in Canada on the TSX both trade in the U.S. (one on OTC and one on Nasdaq).

Equity vs. Debt Cap Raises: 

  • Equity accounted for 10.4% of this week’s capital raises.

Week ended 11/18/2022

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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.