Equity Transaction Chart
Viridian publishes weekly data on equity capital raises in the Cannabis/CBD/Psychedelic industries. This data includes information about the company issuing equity (public/private, state/country location), deal size, deal structure, pricing, share information, deal implied valuation, and warrant information.
This Section is Only Available to Higher Tier Memberships
Please Purchase a Premium or Enterprise membership to see more.
This Section is Only Available to Higher Tier Memberships
Please Purchase a Premium or Enterprise membership to see more.
Equity Commentary
Equity Raises:
-
- On April 28, 2025, Lexaria Bioscience. (LEXX: Nasdaq), a biotechnology company engaged in the provision of active pharmaceutical ingredients closed a registered direct offering of shares for gross proceeds of $2M.
- The issue was sold to a single institutional investor, and no warrants were attached.
- The share price of $1.00 represented a 40.83% discount to pre-announcement prices, somewhat making up for the lack of dilutive warrants.
- The transaction implies a $22M market cap for the company and an EV/2025 revenue multiple of approximately 28.4x.
- Proceeds will fund working capital and other general corporate purposes
- Proforma for the transaction, the free cash flow adjusted current ratio is 1.99x, implying that the company is fully funded for the year.
Public vs. Private Raises:
- Both capital raisers this week are public and trade in the U.S. on Nasdaq.
Equity vs. Debt Cap Raises:
- Debt accounted for 65% 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.
Viridian publishes weekly insights on equity capital raises in the Cannabis/CBD/Psychedelic industries. These insights typically highlight the most interesting/meaningful equity transactions of that week, and commentary on market conditions, equity deal structures and investor groups.