Raises sustain 2019 tempo, led by debt


Capital raises within the North American cannabis business continued their fast year-over-year climb the previous two weeks, elevating the second-largest quantity of debt for the business to this point this yr.

Corporations raised greater than $223 million by debt preparations out of a complete of $320.6 million, led by two large firms: Inexperienced Thumb Industries and MedMen.

Whereas the variety of year-over-year raises has been comparable, the amount has virtually doubled, totaling $6.5 billion by the week of Might 31, 2019, versus $3.four billion for the same interval in 2018.

This weekly collection from Marijuana Enterprise Each day and Viridian Capital Advisors offers the most recent information on cannabis funding exercise and M&A, together with key takeaways, evaluation and traits based mostly on latest market strikes.

The info beneath, offered by Viridian Capital Advisors, is for the weeks ended Might 24 and Might 31.

For extra evaluation and in-depth seems on the funding traits and offers driving the cannabis business ahead, join our new premium subscription service, Investor Intelligence.

Prime raises closed in previous two weeks:

  • Inexperienced Thumb Industries (CSE: GTII), a Chicago-based vertically built-in cannabis firm, closed a $105.5 million debt financing, which might be used for normal capital functions, strategic initiatives and to retire present debt.
  • California-based MedMen (CSE: MMEN) closed an preliminary $80 million debt financing with New York non-public fairness group Gotham Inexperienced Companions (GGP). The cash is the primary a part of a $250 million debt funding with GGP that was introduced in March.
  • Organigram, a Canadian producer now listed on the Nasdaq below the ticker image OGI, closed a debt financing of 50 million Canadian {dollars} ($37.5 million), a part of an total CA$140 million facility.

Prime M&A offers closed in previous two weeks:

  • Trulieve, a Florida-based medical marijuana specialist, closed its acquisition of The Therapeutic Nook, a Connecticut-based dispensary group. The acquisition represents Trulieve’s readiness to broaden exterior of its dominant base in Florida.
  • California-based dispensary group Harborside accomplished its reverse takeover of Toronto’s Lineage Develop, which is able to permit the corporate it to commerce publicly on the Canadian Securities Alternate (CSE). Harborside is because of begin buying and selling on the CSE June 10.

Viridian Capital Advisors is a monetary and strategic advisory agency that gives funding banking, M&A, company growth and investor relations companies to rising progress firms and certified traders within the cannabis sector.

Classes: Canadian Medical Marijuana & Hashish Trade Information, Featured Marijuana Enterprise & Hashish Trade Information, Worldwide Marijuana Enterprise Information, Marijuana Gross sales, Funding & Banking Information, United States Hashish Trade & Marijuana Enterprise Information


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