Is high times a Reg a+ public stock?
While capital continues to flow into cannabis companies, iconic ’70s stoner company High Times has stepped up with a Reg A+ public stock offering to raise money under the 2012 US Jobs Act.
What will happen to High Times’ stock if it sells?
All told, if High Times Holding Corp. sells all of its 4.55 million shares of Class A common stock at $11 per share as proposed, the company’s share of the proceeds will be $43 million. About $14 million of that would go toward various debt payback requirements.
Will high times ever go public?
Unfortunately for High Times, the road to going public has been rocky. According to the company's recent SEC filings, there is "substantial doubt" about the company's ability to continue as a "going concern" for one year from the issuance of its financial statements.
Will high Times list on the NASDAQ?
Founded in 1974 and known for its glossy magazine, website and Cannabis Cup events, High Times plans to list on the Nasdaq if the Reg-A+ offering is successful.
Is High Times ever going to go public?
The year 2021 saw the globe hoping COVID was in the rearview mirror and High Times investors surpassed 30,000. A large number were waiting to cash in on the unknown public value of the company. In February, CEO Hovath shared with Cheddar, “Well, we're definitely going public this year”.
Is High Times listed on the stock market?
High Times isn't publicly listed anywhere. You can buy shares in the company directly from a High Times website using a credit card, but there's not much you can do with those shares if you buy them. Unless and until High Times actually IPOs, there's no liquid market.
What is going on with High Times IPO?
The parent of High Times magazine and organizer of legendary Cannabis Cup events is offering up to $50 million in a Regulation A+ IPO. The obvious appeal of any cannabis-related company is the recent rapid legalization of marijuana – already in 29 states and soon all of Canada for recreational use.
Can I sell High Times stock?
Yes, you can sell your shares to private parties. We've also applied to have our shares listed on an exchange. If we are successful in obtaining an exchange listing, you would then be able to trade your stock freely. However, there is no guarantee that we will be successful in obtaining an exchange listing.
How much are High Times shares worth?
Company OverviewProposed SymbolHITMShare Price$11.00Employees23 (as of 02/28/2018)StatusFiledShares Offered454545418 more rows
Is High Times still published?
The magazine is still published monthly and High Times also runs a popular website, where they host podcasts, videos, and articles. High Times also sponsors the Cannabis Cup. Held annually in Amsterdam since 1988, the Cannabis Cup is world's largest marijuana event.
Is High Times Going public 2022?
High Times is celebrating the four-year anniversary of its IPO filing by once again extending the offering. This time it's being extended to June 30, 2022. Not that anyone can buy any stock.
How many subscribers does High Times magazine have?
236,000High Times was founded in 1974 and has a strong circulation of 236,000 monthly subscribers, although that is fairly small compared to most print magazines and far lower than the company's one-time high of half a million subscribers. For example, niche magazine Food & Wine has 960,000 subscribers.
Who is the owner of High Times?
Later in 2017, High Times was acquired by a group of investors led by Oreva Capital. High Times acquired cannabis media company Green Rush Daily Inc. on April 5, 2018.
Who is the CEO of High Times?
After the merger, the business will be run by High Times CEO Adam Levin and his team. “High Times will utilize its public company status, diversified revenue streams, established and trusted brand name, and deep grassroots following to capitalize on the ongoing, orderly conversion of the U.S.
Is High Times an IPO?
When contacted by Benzinga, High Times' media team clarified that this is "not an IPO.". According to a press release, Hightimes Holding Corp., the magazine’s publisher, has entered a definitive merger agreement with Origo Acquisition Corporation - Ordinary Shares (NASDAQ: OACQ ).
Who is the media analyst for High Times?
At the time of the company’s acquisition, media analyst Samir Husni of the Magazine Innovation Center at the University of Mississippi told the San Francisco Business Chronicle, “High Times is like the North Star that all the other magazines followed… they are going to build a brand-new skyscraper.”. Author.
When did the magazine Cannabis Magazine come out?
Close to a quarter million people receive the print edition of the magazine, which launched in 1974.
Is High Times going public?
One of the oldest and biggest names in the cannabis space, High Times, is officially going public on the NASDAQ. There’s big news on High Times’ march toward an initial public stock offering.
How much money does High Times spend on acquisitions?
About $14 million of that would go toward various debt payback requirements. High Times proposes to spend about $16.5 million on acquisitions and joint ventures to grow the business. Most of High Times’ revenue comes not from its magazine, but from its events.
What is high times banking?
High Times is banking that enough small investors will wager on the company’s future, despite its challenging balance sheet and steep losses of late. Looking ahead, High Times proposes to increase its number of festivals, events and competitions and expand its digital footprint.
What is the first $5 million raised in the company's Reg A+ offering?
The first $5 million raised in the company’s Reg A+ offering will go entirely to pay back its lenders, which include private Chicago-based debt firm ExWorks Capital, according to its prospectus filed with the SEC.. Investors typically don’t like this approach; they’d rather see their dollars go toward growing a business instead of fixing a balance sheet.
What is Reg A+ crowdfunding?
David Feldman, a partner at Duane Morris LLP, says Reg A+ offerings—essentially a form of public crowdfunding— may be used, as High Times is doing, to raise money without an underwriting firm . «It can be attractive if the company has a large customer base and social media following, because of Reg A+’s much broader ability to test ...
Does High Times accept Bitcoin?
In an Aug. 3 press release, High Times said it would accept Bitcoin payments for potential investors to buy stock. But in an Aug. 13 filing with regulators, High Times admitted the release was distributed in error and that it would not take Bitcoin as payment for shares. The company did not elaborate on how the mistake was made or why it would not ...
What magazine does High Times own?
In 2018, High Times acquired DOPE magazine, CULTURE magazine and the website Green Rush Daily, with the aim of cementing its place as the largest name in cannabis and the ultimate media destination for cannabis consumers of all stripes, from the canna-curious to marijuana for-lifers.
Where are the High Times stores located?
This year, High Times plans to expand into retail experiences with its first two brick-and-mortar dispensary locations in Los Angeles, California and Las Vegas, Nevada.
What is high times cannabis?
High Times, the world’s best-known cannabis brand, has always been about connecting people to the plant. That more than 45-year commitment to the cannabis community is what fueled the company’s efforts to expand through its recent Regulation A+ fundraising campaign. And the cannabis community responded—in a big way.
Who is the CEO of High Times?
Former Overstock.com President Stormy Simon recently became High Times CEO replacing Kraig Fox, who resigned on Christmas Eve. Levin, the founder of Oreva Capital, acquired a controlling stake in High Times in 2017 for about $42 million. At the time, he had planned to have High Times go public on the Nasdaq market.
How much money can a mini IPO raise?
Mini-IPOs like the one High Times is doing allows private companies to raise as much as $50 million from the public at a lower cost and with fewer regulations than traditional IPOs.
Is High Times going public?
In the six months ended June 30, High Times had an accumulated deficit of $105.2 million. The company’s pathway to profitability isn’t clear.
When did high times magazine start?
High Times Magazine© is the print publication that literally created the cannabis beat, way back in 1974. Doing business as “HIGH TIMES®.” it has since published more than 500 issues, with digital distribution of the print magazine beginning in 2008. Dope Magazine.
What is the purpose of high times?
The purpose of High Times is, and has always been, to connect people to the plant. For more than 45 years we’ve been fueled by the simple belief that the cannabis movement is about, and should focus on, the community.
What is the High Times logo?
From fashionable merchandise to cannabis courses, and cutting-edge media to rockin' events, the High Times logo is THE most recognized relic in cannabis today. The High Times brand has massive name recognition, and the possibilities for collaboration are limitless.
How much debt does High Times have?
NY Post at one time said that High Times had over $100 million in debt. However, the company hasn’t filed any financial statements since 2019 and so it’s hard to know what shape the company is in. So, Horvath has experience when it comes to debt of over $100 million.
When will Cheddar go public?
At one point Executive Chairman Adam Levin suggested at the end of December 2020 that the company would launch its stock in the first quarter of 2021. That is what prompted Cheddar to ask when the stock would go public as the first quarter came and went with no IPO. Horvath then hinted the High Times stock may go public in April, which has come and gone. Now the clock is ticking. In March, the company extended the offering to May 21, 2021.
Did April come and go without an IPO?
Shockingly, April came and went without an IPO from HighTimes Holding Company. Once again the leaders at High Times teased that the beleaguered shareholders would finally see their shares hit the public markets only to have the day come and go with nothing happening.
Is there land mine in penny stock land?
It used to be that the only land mines you might encounter as a retail investor were in penny stock land. Today, there is an increasing number of “investments” that do not represent the best interests of retail investors.
Is there a guarantee that the shares you buy will ever be listed?
There is no guarantee the shares you buy will ever be listed, and the fact that they might trade on an OTC exchange sometime in the future isn’t comforting. As we always remind our readers, you should avoid OTC stocks like the plague. There are plenty of other ways to invest in the cannabis industry.
