How are energy investors positioned?
Chicago Atlantic Opportunity (SO:FTCE11B) Portfolio, LP, a significant stakeholder in Vireo Growth Inc. (NASDAQ:VREO), has recently increased its holdings in the company. The $143 million market cap company, which InvestingPro analysis shows is currently trading below its Fair Value, has seen its stock decline 36% year-to-date. According to the latest SEC filings, the firm acquired a total of 64,000 subordinate voting shares over two separate transactions.
The purchases occurred on May 23 and May 27, with share prices ranging from $0.3782 to $0.3852, totaling $24,512. Following these transactions, the reporting entity now holds a substantial 32,653,668 shares indirectly. The company generated nearly $100 million in revenue over the last twelve months, though InvestingPro analysis indicates it is quickly burning through cash and operating with moderate debt levels.
These acquisitions highlight continued interest and investment in Vireo Growth by Chicago Atlantic Opportunity Portfolio, LP and its affiliates. Discover more insights about VREO’s financial health and growth potential through the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Vireo Growth Inc. reported a 15.4% increase in full-year revenue, reaching $99.4 million, with fourth-quarter revenue rising 3.5% to $25 million. Despite these gains, the company announced a net loss of $15.7 million in the fourth quarter, attributed to one-time transaction expenses. Vireo Growth is planning significant expansions, including a new cultivation facility and the launch of adult-use sales in Minnesota, which are expected to be transformative for the company in 2025. The company also completed an $81 million private placement, bolstering its cash position to $91.6 million. Vireo Growth’s management anticipates continued revenue growth, with forecasts of $23.9 million in the first and second quarters of 2025, rising to $29.3 million by the fourth quarter. The company remains focused on strategic initiatives, including mergers and capital deployment in New York and Minnesota. Analysts have shown interest in the timeline for the new Minnesota facility, expected to be completed in 2025, and the company’s plans to divest a portion of its New York assets. The company is also preparing for adult-use sales in Minnesota, which are anticipated to commence within 2025.
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