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 04/05/2024
Week ended 04/05/2024
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Equity Commentary
Week ended 04/05/2024
- The Week’s Closed Equity Deals
- On April 5, 2024, Flora Growth Corp. (FLGC: Nasdaq) closed a public offering of common shares for gross proceeds of $3.23M.
- The company sold 1.7M shares at $1.90.
- The transaction increased the total share count by 18.92% and was completed at a discount of 7.32% from the pre-announcement price.
- The transaction implies a market cap and enterprise value of $20.3M and $14.6M, respectively. The implied .20x EV/ 2023 revenue is modestly below the .35x median for the 10 US and Canadian Hemp companies with market caps over $5M. FLGC’s 15.12x EV/ 2023 EBITDA is in the top quartile of the group.
Public vs. Private Raises:
- Both of the week’s capital raisers are public companies. One trades in Canada on the CSE, and both trade in the US (one on the Nasdaq and one on OTCQB).
Equity vs. Debt Cap Raises:
- Equity accounted for 79.0% of this week’s funds raised.
Week ended 04/05/2024
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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.
- Week ended 04/05/2024
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 04/05/2024
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.
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.