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 04/12/2024

Week ended 04/12/2024

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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 04/12/2024

  • The Week’s Closed Equity Deals
    • On April 11, 2024, Ovation Science Inc. (OVAT: CSE)(OVATF: OTCQB), a $1.3M market cap Canadian company that provides topical and transdermal skin products containing hemp oil and cannabis products, closed a private placement of $50,000 of units consisting of common shares and warrants.
    • Each unit consisted of one share and one two-year warrant with a zero percent exercise premium. The value of the warrant package is approximately $.007 per unit, and the net share price was at a 26% discount to the pre-announcement price.
    • The transaction was not large enough to solve the company’s liquidity needs. The free cash flow adjusted current ratio of -.11x indicates a high likelihood that the company will need additional financing in the current year.

Public vs. Private Raises: 

  • Two of the week’s capital raisers are public companies. Both trade in Canada on the CSE and in the U.S. on OTC.

Equity vs. Debt Cap Raises: 

  • Equity accounted for 0.1% of this week’s funds raised.

Week ended 04/12/2024

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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.   

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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.