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 09/01/2023
Week ended 09/01/2023
This Section is Only Available to Higher Tier Memberships
Please Purchase a Premium or Enterprise membership to see more.
Equity Commentary
Week ended 09/01/2023
The Week’s Only Closed Equity Transaction:
- On August 29, 2023, Delta 9 Cannabis (DN: TSX)(DLTNF: OTCQB), a $4M market cap vertically integrated cannabis company that participates in both medical and adult-use markets, completed a private placement of 769,230 common shares for gross proceeds of approximately $36,890.
- The transaction implies a market cap of $6.15M and an enterprise value of $38.47M. DN’s EV/ annualized revenues is approximately .7x
- Delta 9 is highly leveraged with debt, a debt-to-market cap of approximately 8.9x, and has quite low liquidity with free cash flow adjusted current ratio of .87x. We expect the company to need more financing in the following quarters.
Public vs. Private Raises:
- Delta 9, the only capital raiser of the week, is publicly traded on both the TSX in Canada and the OTCQB in the U.S.
Equity vs. Debt Cap Raises:
- Equity accounted for 100.0% of this week’s raises.
Week ended 09/01/2023
Additional content is available to Premium and Enterprise users. Please purchase a higher tier membership to see more.
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 09/01/2023
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 09/01/2023
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.