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 07/05/2024

Week ended 07/05/2024

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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 07/05/2024

Equity Raises:

  • On July 2, 2024, BetterLife Pharma (BETR: CSE)(BETRF: OTCQB), BetterLife Pharma, Inc., a pre-revenue, emerging biotechnology company, which focuses on developing and commercializing two compounds, BETR-001 and BETR-002, to treat neuropsychiatric and neurological disorders, closed a $0.13M private placement of equity units.
  • Units were sold at $.07 and included one common share and one warrant with a two-year expiration and a 30% exercise premium.
  • Proceeds will fund the development of the company’s two main drugs, which are in preclinical and IND-enabling trials.
  • BETR’s -.39x free cash flow adjusted current ratio indicates that it will need additional funding during the year to discharge its current liabilities. The company has an annualized negative cash flow from operations of about $2.4M.

Public vs. Private Raises: 

  • Both capital-raising companies are public.

Equity vs. Debt Cap Raises:

  • Equity accounted for 8.5% of the week’s capital raise activity.

Week ended 07/05/2024

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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.

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.