OUR 9TH YEAR OF PROVIDING PROPRIETARY CAPITAL MARKETS INTELLIGENCE ON THE CANNABIS / HEMP / PSYCHEDELIC SECTORS
M&A Transactions
M&A Transaction Chart
Viridian publishes weekly data on M&A transactions in the Cannabis/CBD/Psychedelic industries. This data includes information about the buyer and seller (public/private, state/country location), deal size, deal structure (cash, stock, earn-out), pricing, share information, and deal implied valuation.
Week ended 11/24/2023
Week ended 11/24/2023
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M&A Transactions Commentary
Week ended 11/24/2023
- The Most Interesting M&A Deal of the Week:
- On November 20, 2023, Blackhawk Growth Corp (BLR: CSE), a Vancouver-based equity and debt investment firm focused on the health, cannabis, and cannabinol industries, completed its acquisition of Hardenbrook Group for $1.48M in stock.
- Hardenbrook secures leading research and IP from tier 1 universities and has a portfolio of assets, including Life AI Corp, AsthmaticAI, MoodAI, Austim AI, and CowCH4.
- Blackhawk has an unenviable equity investment track record. The ten investment positions on the company’s September 2023 books had a total cost of $15.1M, and the company estimates their fair value to be $6K!
- We infer from Blackhawk’s track record that its purchase of Hardenbrook is a bet that one of Hardenbrook’s IP assets will be able to be spun off or IPO’d at a profit, undoubtedly taking advantage of the AI craze that appears in most of the asset names. Color us skeptical.
Week ended 11/24/2023
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Viridian publishes weekly insights on the M&A landscape in the Cannabis/CBD/Psychedelic industries. These insights typically highlight the most interesting/meaningful M&A transactions for that week, and commentary on market conditions, M&A deal structures, target regions for acquirers, and industry sectors ripe for consolidation.