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 08/23/2024
Week ended 08/23/2024
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Equity Commentary
Week ended 08/23/2024
Equity Raises:
- On August 20, 2024, Vireo Growth Inc. (VREO: CSE)(VREOF: OTCQX) disclosed a $5.39M private equity transaction under Reg D.
- Vireo is trading at a reasonable (middle of the group) EV/2024 EBITDA of 8.38x and was wise to take advantage of an opportunity to issue equity.
- The company continues to be overleveraged at 4.29x adjusted net debt to 2024 EBITDA. However, its 2.0x total liabilities to market cap says that investors are generally not concerned about its ability to service its obligations.
- Vireo has an outstanding suit against Verano stemming from Verano’s cancellation of its purchase of Vireo. Vireo is alleging $860M in damages. However, at a market cap of around $160M, the market clearly gives little credence to the suit. Settlement of the suit at even a fraction of the alleged damages could be a real game changer for Vireo.
Public vs. Private Raises:
- Private companies represented three of the four companies raising capital this week and 68.2% of the capital raised.
Equity vs. Debt Cap Raises:
- Equity accounted for 31.7% of the week’s capital raise activity.
Week ended 08/23/2024
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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.
- Week ended 08/23/2024
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 08/23/2024
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.