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1.17 MB
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People
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Organizations
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Locations
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Quotes
Document Information
Type:
Financial report / investment banking research
File Size:
1.17 MB
Summary
This document is page 123 of a report by Ackrell Capital regarding capital markets for cannabis companies, bearing a House Oversight Bates stamp. It presents statistical data on capital raised by U.S. publicly traded cannabis companies for the twelve months ending September 30, 2017, breaking down amounts by exchange (Nasdaq, NYSE, OTC). While part of a document production likely related to broader financial investigations (possibly involving banks linked to Epstein), this specific page contains no direct references to Jeffrey Epstein or his associates.
Organizations (9)
| Name | Type | Context |
|---|---|---|
| Ackrell Capital, LLC |
Investment banking firm producing the report
|
|
| S&P Global Market Intelligence |
Provided data for the capital raising chart
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| GW Pharmaceuticals |
Mentioned in a footnote regarding a large financing deal
|
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| Nasdaq |
Market where companies raised capital
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| NYSE/NYSE American |
Market where companies raised capital
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| OTC |
Over-the-Counter market where many cannabis companies trade
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| FINRA |
Ackrell Capital is a member
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| SIPC |
Ackrell Capital is a member
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| House Oversight Committee |
Implied by the Bates stamp 'HOUSE_OVERSIGHT'
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Timeline (1 events)
September 30, 2017
End of the Last Twelve Months (LTM) period for the data analysis presented.
US Markets
Locations (1)
| Location | Context |
|---|---|
|
Refers to U.S. stock markets and companies
|
Key Quotes (2)
"Although more than 200 cannabis-related companies were traded on the OTC during this period, the data indicates that very few raised meaningful capital."Source
HOUSE_OVERSIGHT_024759.jpg
Quote #1
"Consequently, most trading multiples are not meaningful and the companies tend to trade more on expectations for the overall cannabis industry than on specific company fundamentals"Source
HOUSE_OVERSIGHT_024759.jpg
Quote #2
Full Extracted Text
Complete text extracted from the document (1,657 characters)
ACKRELL
CAPITAL
CHAPTER VII Capital Markets for Cannabis Companies
CAPITAL
CHAPTER VII Capital Markets for Cannabis Companies
Capital Raised by U.S. Publicly Traded Cannabis-Related Companies
The following table shows the amount of capital (equity and debt) raised by cannabis-related companies traded on U.S. stock markets in the twelve months ended September 30, 2017. Although more than 200 cannabis-related companies were traded on the OTC during this period, the data indicates that very few raised meaningful capital.
The following table shows the amount of capital (equity and debt) raised by cannabis-related companies traded on U.S. stock markets in the twelve months ended September 30, 2017. Although more than 200 cannabis-related companies were traded on the OTC during this period, the data indicates that very few raised meaningful capital.
Capital Raised by U.S. Publicly Traded Cannabis-Related Companies (LTM ended September 30, 2017)
$300
$250
$200
($U.S. millions)
$150
$100
$50
$0
Nasdaq
NYSE/NYSE American
OTC
Total
$300
$250
$200
($U.S. millions)
$150
$100
$50
$0
Nasdaq
NYSE/NYSE American
OTC
Total
Amount Raised
$130
$82
$56
$268
Number of Deals
2
2
11
15
Average Deal Size
$65
$41
$5
$18
$130
$82
$56
$268
Number of Deals
2
2
11
15
Average Deal Size
$65
$41
$5
$18
Source: S&P Global Market Intelligence. In December 2017, a $317 million financing was completed by GW Pharmaceuticals (Nasdaq: GWPH), but the transaction occurred outside the date range of the analysis. Due to the size of the transaction, it is worth noting here.
Financial Data and Trading Multiples of
U.S. Publicly Traded Cannabis-Related Companies
U.S. Publicly Traded Cannabis-Related Companies
The following tables show selected financial and trading information of cannabis-related companies that are publicly traded on U.S. markets. As the tables indicate, with few exceptions, these companies have little to no revenue and are not profitable. Consequently, most trading multiples are not meaningful and the companies tend to trade more on expectations for the overall cannabis industry than on specific company fundamentals (especially for those companies traded on the OTC).
© 2017 Ackrell Capital, LLC | Member FINRA/SIPC
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