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 07/28/2023
Week ended 07/28/2023
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Equity Commentary
Week ended 07/28/2023
The Week’s Largest Closed Equity Transaction:
- On July 25, 2023, InnoCann Pharma Corp. (INNO: CSE)(INNPF: OTCQB), an Israeli firm that focuses on the development of several drug delivery platforms combining cannabidiol (“CBD”) with other pharmaceutical ingredients as well as the development and sale of CBD-integrated pharmaceutical products, closed a non-brokered private placement of 17.22M units at $0.174 per unit for gross proceeds of $3.0M.
- Each unit consisted of one common share and ½ a warrant with a three-year expiration and $0.22 exercise price (26.1% premium). The warrants are worth approximately $0.014 per unit resulting in a net share price of $0.16
- The transaction implies a market cap of $42.6M, an enterprise value of $35.2M, and an EV/ annualized revenue of 5.65x.
Public vs. Private Raises:
- Both companies raising capital this week are public and trade both in Canada (one on CSE and one on NEO) and the U.S. (On OTC).
Equity vs. Debt Cap Raises:
- Equity accounted for 100% of this week’s raises.
Week ended 07/28/2023
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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 07/28/2023
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 07/28/2023
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.