High Times Cannabis IPO Quietly Removes Bitcoin and Ethereum Payment Options
High Times Removes Crypto Payment Option From IPO (Again)
High Times has recently made the news because it would start the first Initial Public Offering (IPO) to accept cryptocurrencies like Ethereum and Bitcoin. Then, they changed their mind and canceled the payment option. Finally, the company changed its mind again and decided to accept cryptos once again through the use of a 3rd party.
Right now, however, the company has changed its mind once more and cryptos will not be accepted. The company has decided to quietly remove the option from the IPO site without causing a stir, which makes sense since the whole situation is starting to get comical.
The Story So Far
High Times decided to raise $50 million USD via an IPO and, at the time, a press release from the company stated that Bitcoin and Ethereum would be accepted as a method of payment during the fundraiser. However, when the company sent a filing to the U. S. Securities and Exchange Commission (SEC), a press release announced that the acceptance of Bitcoin was an “error”.
Despite all this, the company did accept Bitcoin and Ethereum. While High Times did not hold any cryptocurrency, any payment made with cryptos would be automatically converted into fiat currency via a third party processor. At the time, a spokesperson affirmed that the company did it to make the SEC happy.
However, now the option to pay with Bitcoins has been removed from the investor’s page of the company without any comment. At the moment, it is not clear what caused the company to change its stance once more.