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 06/14/2024

Week ended 06/14/2024

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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 06/14/2024

Equity Raises:

  • On June 12, 2024, Filament Health (FLHLF: OTCQB), a psychedelics company, closed a private placement for gross proceeds of $.73M.
  • The issue implies a market cap of approximately $9M and values the company at approximately 3.9x LTM revenues.
  • Concurrently, Negev Capital exercised its warrants to purchase approximately 17.3M common shares and converted its outstanding convertible note into 25M shares. As a result of the warrant exercise and conversion of the note, Negev became a holder of more than 20% of the issued and outstanding shares of Filament Health.
  • On June 14, 2024, Goodness Growth Corporation (GDNS: CSE)(GDNSF: OTCQX), a $110M market cap MSO, closed a private placement for $.7M.
  • The transaction values GDNS at approximately 7.5x 2024 EBITDA. 

Public vs. Private Raises: 

  • Both capital-raising companies are public and trade in the U.S. (one on OTCQX and one on OTCQB) and in Canada (one on the CBOE and one on the CSE.)

Equity vs. Debt Cap Raises:

  • Equity accounted for all of the week’s capital raise activity.

Week ended 06/14/2024

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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.