Debt Transaction Chart
Viridian publishes weekly data and analysis on debt capital raises in the Cannabis/CBD/Psychedelic industries. This data includes information about the company issuing debt (public/private, state/country location), deal size, deal structure, pricing, warrants, and credit data.
Debt Commentary
- Debt accounted for 92% of trailing 8-week capital raises. The ratio may go down if companies are able to utilize favorable regulatory-induced stock price increases to complete equity issues. However, equity pricing has remained stubbornly low while the cannabis debt capital markets have reopened.
- The Week’s Debt Transactions
- On November 13, 2024, High Tide (HITI: TSX)(HITI: Nasdaq) closed on the final CDN$5M draw on its CDN$15M debt facility.
- The debt matures on July 31, 2029, and was priced at 90% of par to produce a 15% yield on a 12% coupon.
- Last week’s Credit Tracker somewhat surprisingly ranked HITI as the fifth best credit in the U.S. or Canada with over $100M market cap due to its strong liquidity and low market-based leverage.
Viridian publishes weekly insights on debt capital raises in the Cannabis/CBD/Psychedelic industries. These insights typically highlight the most interesting/meaningful debt transactions of that week, and commentary on market conditions, debt deal structures, and lenders.