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.
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Please Purchase a Premium or Enterprise membership to see more.
Equity Commentary
Equity Raises:
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- On March 17, 2025, Incannex Healthcare (IXHL: Nasdaq), a clinical-stage biopharmaceutical company that is developing combination medicines to treat several chronic conditions, including obstructive sleep apnea (OSA), rheumatoid arthritis and generalized anxiety disorder, priced an equity unit deal for gross proceeds of $12.5M
- The company sold 11.57M units at $1.08 per share.
- Each unit includes one common share and one 2.5-year warrant with a 100% exercise premium.
- Proceeds will fund ongoing clinical trials, including the topline readout of the U.S. Phase 2 study of IHL-42X, the company’s oral treatment for OSA, and its expansion into Phase Three. The proceeds will also repay outstanding convertible debt.
- On March 21, 2025, Herb House (Private) raised $1M for initial capital costs for its dispensary near Meadowlands Sports Complex and Metlife Stadium. Herb House is a social equity retailer founded by Joe Kanegieser.
- Poseidon Capital provided financing under an innovative structure that is able to achieve strong returns for investors while maintaining a larger percentage of equity ownership in the hands of founders. Poseidon seems to have cracked the code on the financing of cannabis retailers, completing three deals since November 2024.
- On March 17, 2025, Incannex Healthcare (IXHL: Nasdaq), a clinical-stage biopharmaceutical company that is developing combination medicines to treat several chronic conditions, including obstructive sleep apnea (OSA), rheumatoid arthritis and generalized anxiety disorder, priced an equity unit deal for gross proceeds of $12.5M
Public vs. Private Raises:
- One of the two capital raisers this week is public and trades on the Nasdaq.
Equity vs. Debt Cap Raises:
- Debt accounted for 71% 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.