Cannabis Publication High Times Cancels Bitcoin Payment Option for IPO
Marijuana Publication High Times Now Affirms It Will Accept Bitcoin In IPO Anymore
High Times, a marijuana advocacy group, has recently changed its mind about accepting Bitcoin. The company has already announced its upcoming Initial Public Offering (IPO) and it affirmed last week that it would accept Bitcoin and Ethereum, but not anymore. The IPO hopes to raise $50 million selling shares of the company to the public.
During the initial announcement of the IPO, the CEO of High Times, Adam Levin, has affirmed that the company was taking a big step into the future and that it would accept both BTC and ETH during the public capital raise for High Times.
However, the company has recently filed a clarification with the SEC stating that the announcement was a mistake and that the company would not accept Bitcoin. The document stated that the press release was an error and that the company would not accept Bitcoin as payment for shares, only check, credit card, ACH and wire transfers instead.
Notably, this new filing did not mention ETH, which was also originally mentioned in the papers released to the press. However, the company did not respond to the media about the omission of Ethereum in the statement.
The High Times IPO will be publicly available via Regulation A+ exemption and will allow investors to buy common stock from the company. The sales will continue until the company raised the target of $50 million USD or until September 12, the end date of the sale.