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 03/17/2023
Week ended 03/17/2023
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M&A Transactions Commentary
Week ended 03/17/2023
The Most Interesting M&A Deal of the Week:
- On March 13, 2023, MariMed (MRMD: CSE)(MRMD: OTC), the 12th largest U.S. MSO by market cap, acquired the assets of Ermont, Inc., a vertically integrated Massachusetts medical cannabis company with one dispensary in Quincy, MA, and one cultivation facility.
- The transaction consideration was $13M. However, the composition of the payment was not disclosed.
- Ermont was in receivership due to a default on a $22M obligation under a secured loan agreement with Teneo Funds SPVi, LLC.
- MariMed’s ability to purchase the assets for under 60% of the book value of the outstanding debt appears to be an exceptional bargain.
- MariMed is applying with the state cannabis commission to convert the dispensary to adult use, which would significantly increase the value of the dispensary.
Week ended 03/17/2023
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.