Capital Raises Summary
Each week, Viridian publishes insights and analysis on completed capital raise transactions in the prior week, focusing on all equity and debt deals. Our analysis includes:
- Summary
- Outlook
- Best & Worst Perfromers
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YTD Analysis
- LTM capital raises total $2.27B, down -2.1% from the same period in 2024. Debt as a percentage of capital raised on a worldwide basis was 59.1%, compared to 57.8% last year. U.S. raises LTM accounted for 75.0% of total funds, up from 53.6% at the same point in 2023. Raises from outside Canada and the U.S. represented 2.3% of the total funds raised, falling short of the average of 5.33% in the six previous years.
- Raises by public companies accounted for 79.76% of total raises in the LTM period, the highest since 2021.
- Cultivation and retail sector capital raises are up 0.2% in the LTM period vs 2024, which in turn was up 167% from 2023.
- Debt accounts for 91.5% of funds raised in the LTM period. Large debt issues (>$100M) represented 42.0% of capital raised compared to zero in 2023.
- Cannabis equity prices (as measured by the MSOS ETF) fell 11.97% for the week, reaching new end-of-the-week lows.
This weeks Sector Focus
Capital Raises vs Stock Prices
- Cannabis equity prices (as measured by the MSOS ETF) fell 11.97% for the week, reaching new end-of-the-week lows.
