Of the 4 debt-based transactions, 3 were convertible note structures which remain the dominant form of debt financing in the cannabis industry.
As compared to prior periods when companies in the Cultivation & Retail sector were accounting for more than 60% of all capital raises, this period showed much more diversity in capital allocation:
*Cultivation & Retail: 7 cap raises
*Infused Products & Extracts: 4 cap raises
*Biotech/Pharma: 3 cap raises
*Software/Media: 2 cap raises
*Investments/M&A: 1 cap raise
MERGERS & ACQUISITIONS
We recorded no M&A transactions during this period, vs. 6 in the prior year period.
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