High Times, the godfather of cannabis culture magazines, is going public — Bitcoin and Ethereum investments welcome! The decision is significant, as it marks the first time that a traditional IPO will accept cryptocurrency investments.
Five Things To Know About High Times’ Crypto-Inclusive Initial Public Offering
- The High Times IPO is using the Regulation A+ crowdfunding process , which allows for $50 million from unaccredited investors.
- If all goes according to plan, High Times will be the first cannabis brand on the NASDAQ. Additionally, it will mark the first IPO to allow Bitcoin and Ethereum investments.
- High Times CEO Adam Levin explained that the company wanted to give crypto investors a “more stable [opportunity] for investment.”
- In its last SEC filing, High Times reported a negative equity reduction of $28.9 million, debt reduction, and a decrease in operating losses.
- The cannabis company is partnering with Fund America, a third-party crypto processor that will accept the Bitcoin and Ethereum payments on High Times’ behalf, and then convert to US dollars.
But Will It Actually Happen?
It’ll be interesting to see if this first-ever crypto IPO actually happens. Since announcing, it’s been touch and go. High Times initially said it would accept Bitcoin and Ethereum, but then backtracked after a word with the SEC.
However, a few days ago, the cannabis company announced a plan to make the crypto-inclusive IPO work within SEC regulations.
Connect With A Crypto Investment Lawyer
We’ll keep our eye out for a reply from the Securities and Exchange Commission regarding this matter.
In the meantime, if you’re a crypto investor in search of tax-reduction opportunities and cryptocurrency tax assistance, give us a call.
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