$100 million of the ATM already gone - where's the cash coming from for any significant acquisition?
Key stats: The company has issued $94.5 million from its at-the-money equity program to fund continued losses since its inception in May. This leaves about $155 million to be issued.
- "Although the use of equity has been value-destructive for most cannabis companies we cover, we think shares are roughly fairly valued at this time, bringing neither negative nor positive effects to our intrinsic valuation"