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 09/29/2023
Week ended 09/29/2023
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Equity Commentary
Week ended 09/29/2023
- The Week’s Only Closed Equity Deal
- On September 27, 2023, Vice Health and Wellness Inc. (VICE: CSE)(VICF: OTC), a Vancover-based recreational cannabis and CBD wellness company, closed a private placement of 25M units at $0.015 for total proceeds of $0.37M.
- Each unit has one common share and one two-year warrant with an exercised price of approximately $.037 (premium of 150%). The warrants’ short maturity and high premium result in a valuation of less than $0.001 per unit and a net stock price implied by the placement of $0.0147.
- Vice is a tiny company with approximately $98K in LTM revenues and SG&A expenses of $756K. The company’s free cash flow adjusted current ratio of 0.19x indicates severe liquidity stress and the imminent need for additional financing.
- The company has pivoted to weight-loss products and is developing an AI-assisted weight-loss tool.
- The company’s stock price is now approximately $.005, having dropped nearly 90% over the last month.
Public vs. Private Raises:
- Vice Health and Wellness VICE: CSE)(VICF: OTC)was the week’s only public capital raiser.
Equity vs. Debt Cap Raises:
- Equity accounted for 9% of the week’s capital raised.
Week ended 09/29/2023
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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 09/29/2023
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 09/29/2023
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.