High Times To Be The First IPO To Accept Ethereum and Bitcoin
The cryptocurrencies are making such a commotion in the world that the traditional financial market is being affected more as time passes. Now, High Times Holding Corp, a cannabis brand which will have an Initial Public Offering (IPO) soon, has decided for something that is new: to accept both Ethereum and Bitcoin on the IPO.
Now, the cannabis brand will now accept the two leading cryptos of the market during its equity-crowdfunding process under the Regulation A+ of the JOBS Act.
According to the CEO of High Times, Adam Levin, the company has been at the forefront of popular culture for decades now and this is another important step to become one of the first cannabis-related brands to actually go public, but not only the company will be on Nasdaq, it will also allow BTC and ETH as part of the public capital of the company, which is also new.
Using Crypto To Get More Investors
The decision of accepting cryptocurrencies was specially made because the company intended to allow a much broader group of investors to buy equity shares of High Times. Crypto users and investors are a whole new group of investors in the field, so they believed that this would allow them to come in and to also participate.
Levin has said that the major goal is to give everyone from retail investors to fans of High Times a piece of the company. The company did not believe that an ICO was the right way, but it would also be a foolish move to simply ignore the crypto investors, so it was time to innovate and to accept cryptos on the IPO.
According to the CEO, cryptocurrencies have created a whole new investor base that is among the whole world and the company is simply giving these new investors a shot for investing into something considerably more stable than most ICOs.
The investors will be able to buy a single share of High Times for as low as $11 USD. During June, the company has filed its latest 1-A regulatory report with the SEC.
About High Times
High Times has been fighting for the legalization of cannabis and acting in cannabis culture for more than 40 years at the moment. The company has expanded its business after cannabis was legalized in some states of the United States and now it is planning an IPO that will revolutionary because it will also accept BTC and ETH as a means of payment.