Comp Table April 29, 2021, for Premium Members Only: Now with share counts, Cash On Hand, & Pro Forma Net Debt

by | Apr 30, 2021 | Comp Table | 0 comments

Premium Members can download the detailed comp table priced as of April 29, 2021, at the button below. 

Like the previous Free Member ones, this includes only in-the-money warrants and options, counts converts as either shares if in the money or face value if out the money, and includes all announced offerings and  acquisitions. 

Unlike the previous ones, this also includes:

  • the current pro-forma in-the-money share count
  • the cash on hand (including only closed deals and offerings)
  • pro forma net debt (or cash)

For cannabis companies, net cash is not deducted from Enterprise Value, as this cash is not truly excess and will be used for the business. Until we see a cannabis company buy back stock or issue dividends, we think this is theoretically correct.

And as proof, Canopy Growth borrowed $750 million at LIBOR+ 8.5% despite having over $1 billion in cash on hand already.