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 09/06/2024
Week ended 09/06/2024
This Section is Only Available to Higher Tier Memberships
Please Purchase a Premium or Enterprise membership to see more.
Equity Commentary
Week ended 09/06/2024
Equity Raises:
- On September 3, 2024, Organigram (OGI: Nasdaq)(OGI: TSX), the sixth largest Canadian LP by market cap, closed the second of a three-tranche strategic investment of C$124 million by BAT for gross proceeds of US$30.8M.
- The Company sold 4.4M common shares and 8.5M Class A preferred shares for US$2.39 per share.
- OGI said that the third tranche of approximately 12.9M shares is due to be issued on or around February 28th, 2025.
- OGI’s investment strategy focuses on “international, technological, and product expansion.” So far, the company has completed investments in Open Book Extracts in the U.S. and Sanity Group in Germany.
- The transaction implies a market cap of approximately$301M and an EV of $209M, representing approximately 1.74x annualized revenues.
- OGI enjoys excellent credit metrics, with a debt/market cap of virtually zero and a free cash flow adjusted current ratio of 4,87x.
Public vs. Private Raises:
- Organigram, the only capital raiser of the week, trades in the U.S. on Nasdaq and in Canada on TSX.
Equity vs. Debt Cap Raises:
- Equity accounted for 100% of the week’s capital raise activity.
Week ended 09/06/2024
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 09/06/2024
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 09/06/2024
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.