You Can Now Buy a Stake in High Times with Cryptocurrency

The High Times IPO: High Times (NASDAQ:HITM) is a cannabis-focused publication and it opened its IPO to investors in June 2018. Now it has emerged that the company is accepting cryptocurrencies as payment, marking the first time that investors have been able to buy a company's shares in this way. Bitcoin and Ethereum are the two accepted cryptos.

The IPO opened on the Nasdaq stock exchange, and according to the US SEC, 454,545 shares are on offer, priced at $11 each.

High Times is valued at $50 million.

High Times IPO

High Times CEO Adam Levine said: "Cryptocurrencies have created a new investor base across the world—we're just giving them more stable opportunities for investment."

The company filed its IPO under Regulation A+, a classification aimed at helping smaller companies succeed. But what does that mean?

Regulation A+ is also known as a 'mini-IPO.' It allows private companies to sell stock to customers, as opposed to crowdfunding only from accredited investors, as per the standard IPO. It has significantly lower legal and audit costs than a regular IPO. Stockholders are excluded from the usual 'lockup period' preventing stock sales for at least three months from the start of the IPO.

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About High Times

High Times was established in 1974. It has a print readership of approximately 250,000, along with an estimated 275 million monthly website visits. It has experienced a 20 percent year-on-year increase in revenue.

The company's success thus far, despite a largely illegalized market, is commendable and showcases massive promise for the coming years as marijuana becomes more accepted and institutionalized.

Always considered a progressive publication, it makes sense that High Times would accept cryptocurrency payments:

"High Times has been at the forefront of popular culture for more than four decades. 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," said Levine.

Featured Image: Freepik

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