Cannabis SPACs vs ETFs

SPACS have been a significant part of the cannabis landscape since the late 2017 IPO of Cannabis Strategies Acquisition Corp, now AYR Wellness. Twenty-three Cannabis SPAC IPOs have been completed for total proceeds of $4.24B: Of these, 5 SPACs with original IPO proceeds of $920M acquired non-cannabis businesses ranging from Wine to Space. Eight representing initial IPO proceeds of $1.72B, merged with cannabis-related companies, and 10 representing original IPO proceeds of $1.60B are still either looking for deals ($1.2B) or have transactions pending ($.4B). California competitors in the group have been harshly punished. In the 11 months since its de-SPAC transaction TPCO (OTC: GRAMF) is down 85.5% ( 88% annualized). Similarly, Glass House Brands (OTC: GLASF) in the less than six months since its de-SPAC is down 65.7% (73% annualized). Ironically, TPCO and GLASF were the two largest IPOs on the list at $575M and $402.5M, respectively. Most importantly, the most recent SPACs have had a less receptive market to use their stocks as acquisition currency. The group's performance may help explain why the most recent SPAC IPO, Canna-Global had to use a whole warrant in its $230M IPO last week. Episode 867 The #TalkingHedge looks at Viridian Capital Advisors chart of the week… https://youtu.be/KghzWiEANvw #AlternativeInvestors #CannabisIndustry #AngelInvestors #FamilyOffices #HighNetWorthInvestors #WealthManagers #PrivateBankers #FinancialAdvisors #PrivateEquity #VentureCapital #AssetManagers #fundmanagement #fundraising #cannabisinvesting #limitedpartners #growthcapital #acquisitions #Cannabis #CBD #VC #Capital #InvestmentBanking #cannabisBusiness #Investing #Trading #FinTech #RoboAdvisor #AltFinance

Episode 727 of the The Talking Hedge podcast, hosted by Josh Kincaid, titled "Cannabis SPACs vs ETFs" was published on January 18, 2022 and runs 6 minutes.

January 18, 2022 ·6m · The Talking Hedge

Summary

SPACS have been a significant part of the cannabis landscape since the late 2017 IPO of Cannabis Strategies Acquisition Corp, now AYR Wellness. Twenty-three Cannabis SPAC IPOs have been completed for total proceeds of $4.24B: Of these, 5 SPACs with original IPO proceeds of $920M acquired non-cannabis businesses ranging from Wine to Space. Eight representing initial IPO proceeds of $1.72B, merged with cannabis-related companies, and 10 representing original IPO proceeds of $1.60B are still either looking for deals ($1.2B) or have transactions pending ($.4B). California competitors in the group have been harshly punished. In the 11 months since its de-SPAC transaction TPCO (OTC: GRAMF) is down 85.5% ( 88% annualized). Similarly, Glass House Brands (OTC: GLASF) in the less than six months since its de-SPAC is down 65.7% (73% annualized). Ironically, TPCO and GLASF were the two largest IPOs on the list at $575M and $402.5M, respectively. Most importantly, the most recent SPACs have had a less receptive market to use their stocks as acquisition currency. The group's performance may help explain why the most recent SPAC IPO, Canna-Global had to use a whole warrant in its $230M IPO last week. Episode 867 The #TalkingHedge looks at Viridian Capital Advisors chart of the week… https://youtu.be/KghzWiEANvw #AlternativeInvestors #CannabisIndustry #AngelInvestors #FamilyOffices #HighNetWorthInvestors #WealthManagers #PrivateBankers #FinancialAdvisors #PrivateEquity #VentureCapital #AssetManagers #fundmanagement #fundraising #cannabisinvesting #limitedpartners #growthcapital #acquisitions #Cannabis #CBD #VC #Capital #InvestmentBanking #cannabisBusiness #Investing #Trading #FinTech #RoboAdvisor #AltFinance

Episode Description