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 03/22/2024
Week ended 03/22/2024
This Section is Only Available to Higher Tier Memberships
Please Purchase a Premium or Enterprise membership to see more.
Equity Commentary
Week ended 03/22/2024
- The Week’s Closed Equity Deals
- On March 19, 2024, Cybin (CYBN: NYSE)(CYBN: Cboe), a clinical-stage biopharmaceuticals company committed to revolutionizing the treatment of mental disorders through the development of next-generation psychedelic treatment options, closed a private placement of common shares for gross proceeds of $150M.
- Cybin sold 348.8M shares, increasing its share count by around 80%.
- The transaction implied a market cap of $334M and an enterprise value of $155M.
- Proforma liquidity is strong with a free cash flow adjusted current ratio of 17.3x
- Proceeds will fund Phase 3 drug development activities for CYB003, a proprietary deuterated psilocybin analog in development for treating Major Depressive Disorder.
- Deep Track Capital led the oversubscribed placement with participation from RA Capital Management, Avidity Partners, Acorn Bioventures, Altrium Capital, etc.
Public vs. Private Raises:
- This week’s capital raisers are public companies that trade in Canada on the Cboe and the US on the NYSE and OTCQX.
Equity vs. Debt Cap Raises:
- Equity accounted for 90.6% of this week’s funds raised.
Week ended 03/22/2024
Additional content is available to Premium and Enterprise users. Please purchase a higher tier membership to see more.
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 03/22/2024
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 03/22/2024
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.