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 09/22/2023
Week ended 09/22/2023
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M&A Transactions Commentary
Week ended 09/22/2023
- The Largest Closed M&A Deal of the Week:
- On September 20, 2023, LEEF Brands Inc. (LEEF: CSE)(LEEEF: OTC), a leading California extraction and manufacturing company, announced the closing of its acquisition of a 1,900 acres ranch in Santa Barbara County for a purchase price of $5.48M.
- $1.1M of the acquisition consideration was paid in cash at closing, with the remainder of $4.2M from a two-year 4% interest-only seller note from Salisbury Canyon Ranch LLC
- LEEF closed a $7M interest-free loan in June to fund the buildout and operation of one of California’s largest biomass cultivation sites. Arbor Ranch S.B., LLC (the lender) received 60% of the equity rights to the underlying real estate along with 56.9M warrants to purchase LEEF equity at $0.06. (LEEF” s stock is now $0.018 per share)
- LEEF believes the purchase will allow the company to control its supply chain and improve the quality and consistency of its products.
- The market reception to the company’s purchase of cultivation capacity in a glutted California market has not been kind. LEEF stock was down 22.5% the day after the transaction and has since traded lower with the market. The stock is down 36.7% since the day before the transaction announcement.
Week ended 09/22/2023
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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.