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 07/14/2023
Week ended 07/14/2023
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Equity Commentary
Week ended 07/14/2023
The Week’s Only Closed Equity Transaction:
- On July 13, 2023, Better Life Pharma (BETR: CSE)(BETRF: OTCQb), a biopharmaceutical company developing compounds for the treatment of neuropsychiatric disorders, closed a $170K non-brokered private placement of units.
- The company sold 2.2M units at $.076 per unit.
- Each unit has one common share and two five-year warrants with 50% exercise premiums. The warrants value accounted for 17% of the unit price, but the issue was well received by the market and traded to a premium of 2% over pre-announcement prices.
- The transaction implies a market cap of $6.8M and an enterprise value of $8.5M. The company is pre-revenue, making revenue or EBITDA multiples not applicable.
Public vs. Private Raises:
- Both companies that raised capital this week are public. Both trade in Canada on the CSE and in the U.S. OTC.
Equity vs. Debt Cap Raises:
- Equity accounted for one capital raise this week and 3.3% of the funds raised.
Week ended 07/14/2023
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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 07/14/2023
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 07/14/2023
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.