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 02/09/2024

Week ended 02/09/2024

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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 02/09/2024

  • The Week’s Closed Equity Deals
    • On February 7, 2024, Avextra AG (Private), a Germany-based leading European vertically-integrated manufacturer and developer of pharmaceutical cannabis-based medicines, announced the closing of a $21.5M funding round.
    • The round was raised at a post-money valuation of $108M.
    • Avextra controls its entire value chain, including cultivation in Portugal, EU-GP manufacturing in Germany, and an extensive multi-channel distribution network across continental Europe.
  • Another Important Closed Equity Deal
    • On February 5, 2024, Numinous Wellness (NUMI: TSX)(NUMIF: OTCQX) raised $4.45M in a bought deal public offering of units.
    • Numinous sold 50M units at $.089 per unit.
    • Each unit consisted of 1 common share and one warrant with a two-year maturity and a $.1336 exercise price (50% premium). The relatively short life and high premium of the warrants reduce their value and result in a net share price of $.083, representing a discount of 18.5% from pre-announcement prices.
    • Integrated VC, a venture fund, and the Multidisciplinary Association for Psychedelic Studies (MAPS) led the transaction.

Public vs. Private Raises: 

  • Four of the five capital raisers this week were public companies. Three trade in Canada (2 on CSE and one on TSX) and four trade in the US (2 on OTCQX, one on OTC, and one on NYSE).

Equity vs. Debt Cap Raises: 

  • Equity accounted for three of the five capital raises this week and 38.86% of capital raised.

Week ended 02/09/2024

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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.