• 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.