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 08/25/2023
Week ended 08/25/2023
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M&A Transactions Commentary
Week ended 08/25/2023
- The Largest M&A Deal of the Week:
- On August 18, 2023, Skye Bioscience Inc (SKYE: OTC), a biotech company that is developing therapeutic products focused on the endocannabinoid system, completed its acquisition of Bird Rock Bio (Private) for $20M.
- The consideration was paid via approximately 969.0M shares of SKYE. The acquisition, combined with the concurrent PIPE transaction, will result in former shareholders of Bird Rock owning 31.4% of outstanding shares, New PIPE investors holding 37% of the shares, and existing Skye shareholders owning 31.6% of outstanding shares.
- The acquisition will position SKYE to advance two complementary Phase 2 drug trials focusing on glaucoma and chronic kidney disease.
Week ended 08/25/2023
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.