There’s big news on High Times’ march toward an initial public stock offering. Investors are now being offered a chance to buy a piece of Hightimes Media Corp. as part of a IPO equity crowdfunding campaign, under the SEC’s Regulation A+ (Reg A) process.
The Reg A share price will be set at $11, a ten percent discount from the anticipated opening price on Nasdaq. New to investing? No brokerage account will be needed to buy shares in the legacy brand—just a visit to hightimes.com/invest.
High Times Chief Executive Officer Adam Levin explained the decision to crowdfund before the company’s official market debut.
“We’re making history by becoming one of the first cannabis-focused companies publicly traded on the Nasdaq.”
“It was important to me that this offering be open to anyone interested in joining this historic team, not just to those with brokerage accounts,” said Levin. “We’re making history by becoming one of the first cannabis-focused companies publicly traded on the Nasdaq. We got here in no small part because of our incredible audience, who have been supporting this iconic brand for decades.”
As marijuana legalization surges ahead and interest in the industry grows nationally, Levin expects High Times and its brand will continue to grow, too.
With the money raised by the public offering, Hightimes Holding Co. plans on investing in and expanding content creation, as well as other product lines and brands such as its event productions—centered around its touring festival series, the Cannabis Cup—and High Times Records, launched last year. The business will remain focused on media, events, and lifestyle experiences tied to pot culture while remaining separate from the production or distribution of cannabis.
Jesse Faatz/ High Times
Close to a quarter