The main cannabis magazine wants to enter the financial markets. Like a start-up, High Times wants to position itself on the Nasdaq.
The new management of High Times, the world's largest cannabis magazine, has announced plans to issue headlines on the Nasdaq. Initially, shares valued at $ 11 will help launch a fundraising campaign.
High Times is heading for a initial public offering of shares. Investors now have the option of buying a share of High times Media Corp. as part of a crowdfunding campaign.
Between Nasdaq and crowdfunding for High Times
The share price under this form of crowdfunding will be set at $ 11, a 10% discount from the early Nasdaq opening price.
So no brokerage account will be needed to buy shares. A simple visit to hightimes.com/invest.
High Times CEO Adam Levin explained crowdfund's decision before the company's official debut.
“We are making history by becoming one of the first cannabis companies listed on the Nasdaq. "
Investors now have the option to buy a share of Hightimes Media Corp. as part of an IPO crowdfunding campaign.
An offer open to all
High Times CEO Adam Levin explained the decision:
“It was important to me that this offer was open to anyone interested in joining this historic team, not just those with brokerage accounts,” said Levin.
“We got here in large part because of our incredible audience, who have supported this iconic brand for decades. "
As the legalization of cannabis progresses and interest in the industry grows nationwide, Mr. Levin expects High Times and his brand to continue to grow as well.
With the money raised by the public offering, High Times Holding Co. plans to invest and expand content creation. Indeed, product lines and brands such as its events and tours will develop. We obviously think of the Cannabis Cup and High Times Records, launched last year. The company will remain focused on media, events and (broadly defined) cannabis culture. However, High Times will stay away from the production or distribution of cannabis.