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 08/11/2023

Week ended 08/11/2023

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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 08/11/2023

The Week’s Only Closed Equity Transaction:

  • On August 8, 2023, InnoCan 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 8.41M units at $0.171 per unit for gross proceeds of $1.44M.
    • Each unit consisted of one common share and one warrant with a three-year expiration and a $0.22 exercise price (26.1% premium). The warrants are worth approximately $0.0268 per unit resulting in a net share price of $0.1442.
    • The transaction implies a market cap of $37.05M, an enterprise value of $31.3M, and an EV/ annualized revenue of 5.01x.
    • Proceeds will fund working capital and general corporate purposes.

Public vs. Private Raises: 

  • One company that raised capital this week is public and trades in Canada on the CSE and in the U.S. on OTCQB.

Equity vs. Debt Cap Raises: 

  • Equity accounted for 23.0% of this week’s raises.

Week ended 08/11/2023

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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.

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.