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 05/05/2023
Week ended 05/05/2023
This Section is Only Available to Higher Tier Memberships
Please Purchase a Premium or Enterprise membership to see more.
Equity Commentary
Week ended 05/05/2023
The Week’s Only Closed Equity Transaction:
- On May 4, 2023, cbdMD (YCBD: AMEX) announced closing a $2.84M public offering of 1.35M shares at $2.10.
- cbdMD is the second largest U.S. Hemp company, with a transaction implied market cap of approximately $32.6M and an enterprise value of $39.5M.
- The equity sale values the company at approximately 1.23x LTM revenues and 1.62x annualized quarterly revenues, significant premiums to the .6x and .82x we calculated as the respective medians for the five U.S. Hemp sector companies with market caps over $10M in the Viridian Capital Value Tracker database. Our Weekly Value Tracker section will provide more detail on the competitors and how they are valued.
- Proceeds will be used for general working capital purposes and to fund selective acquisitions.
Public vs. Private Raises:
- All three capital raisers this week are public companies. One trades in Canada on the CSE. Two trade in the U.S. (one on OTC and one on AMEX), and one on the Australian exchange.
Equity vs. Debt Cap Raises:
- Equity accounted for two of the week’s three capital raises and 69.2% of the funds.
Week ended 05/05/2023
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 05/05/2023
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 05/05/2023
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.