“High Times” IPO Will Be First To Accept Bitcoin
Trusted cannabis brand High Times announced today that it will become the first ever stock offering to accept digital currency, Bitcoin. Its current equity-crowdfunding process, under Regulation A+, has already begun the process of bringing in cryptocurrencies.
According to High Times CEO Adam Levin, the addition of cryptocurrencies as an option is to enable a much broader group of investors worldwide.
“High Times has been at the forefront of popular culture for more than four decades,” Levin said. “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 filed its latest Reg. A report—detailing almost $29 million in reduction of negative equity, significant decreases in operating losses, and a debt reduction—with the U.S. Securities & Exchange Commission.
The currency of the future
Cryptocurrency, essentially strongly-encrypted digital currency that operates outside of a central bank, has been the subject of heavy discussion over the years. Bitcoin started the idea off in 2009 and ever since has been the leading cryptocurrency by a longshot. As of today, there are over 4,000 different variants of Bitcoin.
“Cryptocurrencies have created a new investor base across the world—we’re just giving them more stable opportunities for investment,” Levin said. “Beginning with our Reg. A+ crowdfunding, we’ve been focused on giving everyone from retail investors to long-time fans more ways to own a piece of High Times. While we didn’t believe that the ICO process was the right move for our brand, it would’ve been foolish to leave this emerging investor base out as we continue to transform into a diversified media, events and merchandise giant.”
High Times has been one of the most leading and trusted cannabis brands in the game since 1974, and an important beacon in the legalization activism game. With a magazine and online presence still going strong, many are eager to grab some shares.
Investors are now able to purchase shares in High Times for as little as $11 a share at HighTimesInvestor.com.