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 12/22/2023
Week ended 12/22/2023
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M&A Transactions Commentary
Week ended 12/22/2023
- The Only M&A Deal of the Week:
- On December 18, 2023, Canopy Growth Corp. (WEED: TSX)(CGC: Nasdaq) completed the divestiture of its “This Works” skincare and wellness brand to Inspirit Capital, a London-based investment firm.
- The total consideration of $11.81M was composed of $3.43M in cash and 8.38M in seller notes.
- David Klein, Canopy’s CEO, noted that the divestiture was another step towards an asset-lite approach to the North American cannabis market and that the proceeds would strengthen Canopy’s financial position.
- The Viridian Capital Credit Tracker model now shows Canopy Growth as the eleventh strongest credit from the group of 18 Canadian cultivation and retail companies in the Viridian database with market caps over $5M. Canopy still has reasonable liquidity due to its remaining cash position, but this is eroding, and the ability of the company to become cash flow positive is in doubt.
Week ended 12/22/2023
This is the MA basic
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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.