This weekly collection from Marijuana Business Daily and Viridian Capital Advisors offers the newest knowledge on hashish funding exercise and M&A, together with key takeaways, evaluation and developments based mostly on current market strikes.
The knowledge under, offered by Viridian Capital Advisors, is thru the week ended Feb. 22.
Capital increase highlights:
- Innovative Industrial Properties (NYSE: IIPR), a hashish industry-focused actual property funding belief, closed a $144 million increase – capital it plans to make use of to buy properties to lease again to marijuana operators. “As more investors come in that don’t want to touch the plant, they could be more open to this type of real estate investment opportunity,” stated Harrison Phillips, vice chairman with Viridian Capital Advisors.
- Boston-based Ascend Wellness Holdings, a multistate vertically built-in marijuana operator, closed a $55 million funding spherical – capital the agency will use to increase in its residence state of Massachusetts and different markets, together with Ohio. “Massachusetts’ adult-use market operators continue attracting capital due to more near-term growth prospects,” Phillips famous.
- Green Thumb Industries (CSE: GTII) of Chicago closed its acquisition of Los Angeles-based For Success Holding Co., house owners of the Beboe product line of premium hashish and CBD-infused merchandise. The all-stock deal, the worth of which was not disclosed, underscores rising demand amongst branded product corporations by bigger operators trying to increase their product portfolios, Phillips stated. “Local and regional brands that are differentiating themselves are generating a lot of interest and remain attractive for acquisition,” he stated.
- After the passage of the U.S. Farm Bill, hemp and CBD corporations proceed to be prime acquisition targets as underscored by two current offers:
- GNCC Capital’s $120 million acquisition of BioCann Pharma, a CBD oil producer and distributor with workplaces in Colombia and Burlington, Ontario, Canada.
- Youngevity International’s $16 million acquisition of Florida-based Khrysos, a producer of hemp-based CBD extraction gear.
Viridian Capital Advisors is a monetary and strategic advisory agency that gives funding banking, M&A, company improvement and investor relations providers to rising progress corporations and certified buyers within the hashish sector.