On Thursday, the well-known cannabis culture brand and publication High Times announced it’s holding an initial public offering (IPO) and that it will be the first regulated A+ stock offering to accept cryptocurrencies.
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High Times Takes Another Step Into the Future by Accepting Cryptocurrencies for its IPO
The firm High Times is a popular cannabis-focused monthly magazine that was founded in 1974. The publication founded by Tom Forcade reports on the marijuana counterculture and the legalization of cannabis. On August 2, 2018, the legacy company announced it is holding an IPO so individuals can invest in the firm by buying shares. In an unusual twist, the firm has also revealed it is the first A+ stock offering to accept bitcoin core (BTC), and ethereum (ETH).
According to High Times, the firm filed its Reg. A report which detailed “$29 million in a reduction of negative equity, significant decreases in operating losses, and a debt reduction — with the U.S. Securities & Exchange Commission.” High Times CEO Adam Levin believes adding cryptocurrency acceptance will allow a bigger audience to participate in the IPO.
“High Times has been at the forefront of popular culture for more than four decades,” Levin explained during the announcement.
Now we’re taking another step into the future, not only as one of the first cannabis-related brands to go public on the Nasdaq but also as the first to allow bitcoin and ethereum as part of our public capital raise.
High Times has been reporting on cannabis culture since 1974. It will be the first US company to accept cryptocurrencies for its IPO.
No Initial Coin Offering But Including Crypto Investors
Investors can
