Viridian Chart Of The Week: Cannabis Debt Financing Is Booming Across The U.S.

  • Unlike equity capital raises which are sharply lower in 2020, debt raises increased from $423M to $563M to $940M in 2018, 2019 and YTD 2020 respectively.

  • Like M&A, debt has moved eastward. California, Colorado, Oregon, and Washington jointly made up 34.5% of 2018 debt but only 5.4% of 2020’s debt.  Illinois, Massachusetts and New York accounted for 93.0% of 2020 debt issuance.

  • The average size of issues is going up from $10.0M in 2018 to $13.7M in 2019 to $55.3M in 2020.

  • The market has become focused on the larger players. Curaleaf ($300M), Leaflink($250M) , and Cresco ($175M) jointly made up …

Full story available on Benzinga.com

More Viridian Chart Of The Week: Cannabis Debt Financing Is Booming Across The U.S.