Viridian Capital

Following Germany's vote this past Friday to legalize limited cannabis possession, cannabis stocks got a significant boost before leveling out. Germany is, after all, the largest country in Europe. Curaleaf Holdings (OTCQX: CURLF), the largest U.S. cannabis company by market cap, rose...

Scott Greiper, President and Founder at Viridian Capital Advisors, was a guest speaker at Benzinga’s Cannabis Capital Conference on April 11 and 12, 2023.  Viridian Capital Advisors was among the first institutional financial and strategic advisory firms for the cannabis sector. The firm...

In a recent analyst note, Jonathan DeCourcey from Viridian Capital Advisors provided an update on cannabis companies Planet 13, Ascend Wellness and TILT Holdings. DeCourcey covered the companies’ earnings and business strategies and offered a market outlook analysis for Nevada,...

Lowered valuations for cannabis companies are leading to a shift in the way capital raises and merger and acquisition activity is occurring in the cannabis space. Viridian Capital Advisors President & Founder Scott Greiper shared the trends that are shifting in the space. Early Capital In...

As debt raises continue to increase for large and smaller operators, Viridian has calculated an “effective cost” analysis to truly arrive at cost of capital for borrowers. Our calculation explicitly values all embedded options including convertibility and any warrant coverage. We also...

The graph displays total transaction consideration for U.S. and Canadian M&A transactions since 2019.  In the first half of 2019 the U.S and Canada were closely matched with approximately $2.1 billion of total consideration.   From the 2nd half of 2019 through 2020,...

The graph shows total equity capital raised by private companies (green bar) as a % of total equity raises during the first 20 weeks of each year. The orange line shows the average private equity deal size. Private companies account for less than 1/2 as much of dollars raised YTD in 2021...

The blue bar in the graph shows the percentage by which 4th quarter 2020 EBITDA exceeded consensus analyst estimates as reported by FactSet for each of the seven top MSOs that have reported. The orange line shows the next day percentage change of the stock price less the percent change of the...

The graph compares the price of a basket of large MSOs that are well covered by cannabis research analysts to the price of a basket of smaller less-covered MSO/SSOs for YTD 2021. The smaller, less-covered companies are more volatile, generally rising faster in up markets and declining faster...

The graph shows cannabis capital raises by country (chiefly USA & Canada) and by type (debt vs equity). The green bars depict equity capital raises, brown bars depict debt raises, and red bars depict all capital raises by companies headquartered outside of the U.S or Canada. The $4.3...

The Viridian Cannabis Deal Tracker is an information service that monitors capital raise and M&A activity in the legal cannabis industry. Each week the Tracker analyzes/aggregates all closed deals and allocates each transaction to one of twelve key industry sectors in which the deal occurred (...

In recent weeks, the largest U.S. Cannabis companies have raised record amounts of equity capital, significantly boosting liquidity. The graph displays Enterprise Value/Consensus 2021 EBITDA estimates for 36 U.S. Cannabis companies in the Viridian Value Tracker database, ranked by size and...

The graph demonstrates a generally positive impact on the stock price of the Buyer in cannabis M&A transactions and this gain seems to relate to the size of the transaction. Cannabis investors appear to favor transformational sized deals that exceed 50% of the pre-transaction asset size of the...

The Viridian Cannabis Deal Tracker is an information service that monitors capital raise and M&A activity in the legal cannabis industry. Each week the Tracker analyzes/aggregates all closed deals and allocates each transaction to one of twelve key industry sectors in which the deal occurred (...

Cannabis companies continue to face restrictions on most national exchanges. Special-purpose acquisition companies (SPACs) help fill the funding void. These types of deals are occurring more often as a less costly and more efficient go-public strategy. Recall in ...