IPO accepting cryptocurrencies has again become a reason for the success of High Times Holding Corp. It is one of the world’s renowned company. It is a cannabis brand company that releases a magazine named ‘High Times.’ High Times magazine is famous for promoting issues like legalization of marijuana and counterculture. Magazine showcase the content through various platforms such as digital, print, audio and video. It has a business in marijuana which is legal and also is a counterculture company. It was established in 1974, by Tom Forcade and has headquartered in Los Angeles, California, United States. High Times was previously called as Trans-High Corp. until June 2017 when it changed its name permanently. Mr Adam E. Levin is the President, CEO, and Chairman of the company.
What is a Cryptocurrency?
A cryptocurrency is mainly a form of digital money that originates from a unique code. Cryptocurrency maintains the privacy by restricting governmental activities on its platform. It runs through a peer to peer internet protocol. Cryptocurrency is a string of data that is quite encrypting. This data then encloses to define one unit of currency. The transactions under cryptocurrencies are all anonymous. Cryptocurrencies are not controlled or regulated by any centralized body. A few forms of cryptocurrencies have been introduced globally. Such as bitcoin, there and ripple market cap.
Regulation A+ IPO accepting cryptocurrencies
Source: Financial Tribune
High Times will be raising the capital through the IPO using ‘Regulation A+’ offering. The company is also the first in the world to offer shares in cryptocurrencies through Regulation A+. Regulation A+ offerings have become popular these days as they invite everybody to invest in private company’s initial public offerings. Startups also have the freedom to offer their shares through a ‘mini’ initial public offering to grab some investors. Before the introduction of this type of offering, private companies didn’t feel like engaging in crowdfunding. The only option was to crowdfund from accredited investors who are basically 2% of the wealthiest investors. Crowdfunding is inviting participation from the general public, i.e., crowd and making them aware of the capital fundraising.
Recent Headline of High Times
High Times has been in the global news recently for all the good reasons (at least for the investors). It has been trending a lot higher in the recent times. High times is planning to come up with the first ever IPO (initial public offering) that offers investments in the form of ‘Bitcoin’ and ‘Ethereum.’ These are both collectively dealing with cryptocurrencies. Bitcoin is the first cryptocurrency bringing an innovation in monetary alliances in the world. It still remains one of the most prominent and trustworthy choices of the investors.
While there is a cryptocurrency relating to the blockchain technology it’s also popular as the cryptocurrency of the next generation. It is supporting many businesses by building their blockchain technology optimum. Cryptocurrencies have gathered a huge amount of investors all around the world and High times is about to give them a great opportunity to invest. High Times is keen on broadening its amount of investors during its launch as a public company. The company is making sure that more and more investors get to own a piece of High times as little as it may be.
NASDAQ Will Witness this breakthrough
IPO accepting cryptocurrencies will be taking place at NASDAQ, New York and will take place later this year. NASDAQ is the second largest stock exchange in the world after the New York Stock exchange by market cap. Also, both are located in the same city as New York. High Times is offering shares at a price starting from $11. Shares are also there at a discount rate of 10%. Before the striking price also people are facing the problem.
This move of accepting bitcoin and ethereal is the decision of the CEO, Mr Adam Levin. He says it will bring more potential investors to his company as the market of cryptocurrencies is going skyrocket. “High Times is now taking another step into the future, as not only 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.” Says Mr Adam Levin.
High times is launching first IPO accepting cryptocurrencies instead of following the traditional methods. This will definitely benefit the company with the increase in investors. It is a trendsetter for now. Whether other companies will start following the same trend or not, that is not sure yet. One of the problems while dealing with cryptocurrencies arise as it is volatile. Value of a company might go up 10 times overnight, or it might go down in the exact same way. A very few companies are willing to take that risk. Secondly, it will still take some time to digest the stigma around cryptocurrencies. But, in any way, this offering will be of great help in the adoption of cryptocurrencies.