High Times First Cryptocurrency Accepting IPO
Cannabis-related publication High Times is now the first IPO to accept cryptocurrencies as investments. As of now, it has become the first offering of its kind to accept virtual coins during its initial public offering as investments and contributions.
A New Player
The company will operate through Regulation A+ crowdfunding designed to grant smaller businesses access to Initial Public Offerings to and raise up to $50M in offerings. Additionally, High Times’ IPO is the first company to accept the new form of investment as a means of joining in on the funding.
The Chief Executive Officer, Adam Levin, stated that the company has been spearheading pop-culture for over 40 years and this is a brand new move as a means of stepping into the future of the company as the first to accept cryptocurrencies in their procedures and the first company listed on the NASDAQ with a cannabis-centered focus. Despite saying that the company was not interested in an Initial Coin Offering, he also said that completely ignoring investments of those kinds would be a terrible move.
Through accepting Bitcoin and Ethereum as investments for the IPO, the company will be drawing in more individuals and involved members through a new method of participating. As Adam Levin has stated, crypto has created a whole new class of investors on a global scale and the company is dedicated to providing more accessible investment for the new kind.
According to reports, shares will be sold for $11 USD and a ten percent discount on NASDAQ’s listing price.