High Times parent to close share offering; cannabis publication still eyes Nasdaq

(This story has been updated to clarify that the parent company of High Times is making the stock offering.) 

The parent of the iconic cannabis magazine High Times will close its share offering by June 30, executive chairman Adam Levin told Marijuana Business Daily.

High Times Holding Corp.’s offering has seen multiple extensions, raising concerns that the company isn’t reaching its targets.

Whether it will eventually obtain a wished-for Nasdaq listing or something else remains to be seen, Levin said.

“We have really sought the Nasdaq listing. This is where the capital is moving, and it would be foolish at this stage to be looking at anything else,” Levin added.

That said, High Times is looking at other forums, Levin said, citing Canadian possibilities and over-the-counter exchanges in the United States.

High Times also has faced criticism for allowing small investors to pay for stock with a minimum investment of $99 using a credit card. Those criticisms were rejected by Levin.

“We have chosen a path that democratizes the IPO process,” he said. “I don’t know why we should limit access to this opportunity to just the 1%.”

Levin reported that more than 20,000 investors have invested a total of roughly $15 million to date.

High Times is hoping to raise $50 million with an offering of just over 4.5 million shares.

The publication came under fire last week, when marijuana pioneer Ah Warner made allegations it had infringed on her trademark Women of Weed social and activist group, and for doing so in a “sexualized” way.

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Nick Thomas can be reached at [email protected]

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37 comments on “High Times parent to close share offering; cannabis publication still eyes Nasdaq
  1. Maxcatski on

    High Times is a dinosaur, a print magazine about illegal cannabis in the digital era when we have legal pot.

    The public’s tepid response to the share offering confirms it. High Times’ time has passed.

    Reply
    • Kevin Olson former investor on

      Back when they first opened the “IPO” quest, I bought $311.00 in …. “Future Stocks”,
      Spent about 7 weeks researching what High Times was doing with your initial investment was not right.
      They were using your cash to try to pay off or pay down $58 million in current debt, not using your IPO Investment to create a viable recognized NYSE / NASDAQ Presence, but to pay off old….. very old High Times debt.
      Then under Adam Levine, they used your $$$$ and went on a buying spree, Dope Magazine And other acquisitions … check today’s (1 Aug. 2019), Dope Magazines worth since acquisition….. yep !! Dope Mag became another High Times D O P E .

      JAN. 2019 – I demanded my $311.00 be returned to me… took about 4 weeks and 3 emails from Adam, and my $$$$$ WAS IN FACT RETURNED TO ME.

      I had attended their webcast in which the financial team of High Times were the progenitors as well as the hosts.

      They were at a point of stating what great acquisitions were and being made and the *they said vertical **propulsion they were experiencing, I interjected with actual governmental commentary as well as what the NYSE & the affiliated financial institutes were saying about the eventual viability of the HIGH TIMES IPO,

      — ** NOT RECOMMENDED **—

      They immediately kicked me out of the seminar, not long after I received my IPO INVESTMENT BACK,….. AND curiously Adam Levin was replaced.

      Reply
    • Johnny james on

      Seems you really don’t know about the digital world of what they call the Internet, lol …. Do you realize what High Times owns other then just the magazine High Times ?¿ You need to do some more reading it’s called research , before you start saying high Times is more or less old school.. yes I’m 58 years young and I bought stocks for my X 3 kids , X 8 grand children will be benefiting from the stocks I’m sure here in near future . If you have nothing but bad things to say don’t say nothing… Really . .. why not go look into the mirror and say I’m an angry person say it 3 to 4 times per hour then go leave a good review on something you enjoy… Smoke some of my Forbidden Fruit it’ll make you look at the world in a whole different view , don’t be mad dude smoke a bowl chill u need it dude. .

      Reply
      • Nuetral Party on

        Johnny your in the clouds man. I doubt your kids and grandkids will give 2 about the worthless paper you can give them with the HT logo on it.
        PS- I never invested because I was an employee of High Crimes and was preview to the extremely obvious carelessness of the “culture”

        Reply
  2. Chris on

    I requested that my hightimes money be refunded because hightimes is not living up to their expectations. High times does not respond back to most inquiries in my opinion and only responds when they deem necessary. I would like my money back especially if hightimes is not a stock Trader on NASDAQ and they become a Trader on a more risky pink stock

    Reply
    • Guy familiar with this on

      This is exactly why this type of offering has been illegal in the past. People with zero experience getting dupped by lying preditory companies because they cant read financials.

      If you would have went to the SEC website before giving them your money you would see that they were never going to get listed on the NASDAQ. Ever. They had been denied before the offering. Not to mention the 50 million debt that matures in 2020. The company is taking money from dummies in a last ditch money grab.

      Good luck getting your money back. Ive tried to contact them with questions of fraud and they blocked me from all social media, hang up the phone, ignore emails and even disconnected one of their public contact numbers.

      Your money is gone unless you sue them. They know you wont. Thats part of the play. Thats why they dont want to raise money from accredited investors. They will sue.

      Reply
      • Kelly Tenpas on

        I was stupid enough to invest my first time ever investing in anything if you could email me some contact information for their office I would appreciate it considering they took advantage of a single disabled mother of two I’m more than angry thank you in advance

        Reply
    • Michael Woodard on

      Hightimes has never hid the fact that they were not yet on the listing, everything i read mentions it therefore i dont see where you have the right to money back.

      Reply
  3. Alicia Lozano on

    High Times has my vote. Critics are just that: critical of everything not them. What I would suggest to HIGH TIMES is try getting listed on Robinhood. I think they would sell there.

    Reply
  4. Cyn on

    While they may be ” ancient” to millenials, this publication has been relevant throughout the marijuana movement and synonymous with the cannabis cup. Literally where growers have been putting their best florals for a chance at receiving the coveted cannabis cup and bragging rights to say they have the best bud in the world. I feel it to be a sound investment based on the numbers alone. The states that have decriminalized it or have it available for recreational use have made billions of dollars. I mean I am positive there was plenty of nay saying towards previous stocks in the past that have turned out to be quite lucrative for their investors. I feel that this is a risky but worthwhile stock to consider. Marijuana will be the next Titan. Mark my words.

    Reply
  5. Patrick Schreiber on

    Hello again is there more people favor to waiting this out ,or is it really up in smoke ? Thank you to all who respond.

    Reply
  6. DeShae' Ratcliff on

    I’ve Vested $5,500.00 With The Company. Have Yet To See Any Results & Just Received An Email Yesterday (08/05/2019) Stating That They Were Getting Ready To Start Issuing Stock. I Have Not Been Able To Get Any Resolution, Answers Or Update Until Yesterday. Definitely Very Frustrating – However, I’m Hoping For The Best & Expecting The Worse.

    Reply
  7. William on

    Not going to lie, after reading these replies I’m still going to ride the wave. I honestly spend the $200 invested on Fortnite skins for my kids. If it hits and that seems to be a huge IF the reward should outweigh the risk. To be honest I’m actually considering upping my investment to the $420 mark just to get the perk. Because at the end of the day it’s a conversation piece. I own a very small piece of the company I grew up looking at on the top shelf at the store when my mom wasn’t around. ????? Best of luck to everybody on your endeavors.

    Reply
  8. Joe on

    I invested $1100.00, I didn’t even get my promised t-shirt. But I have been waiting patiently to see what happens. So far to date, I’ve only lost money on the “pot” stocks, so I didn’t have any expectations for HT. I am curious, I have seen some people get back their money, others got at least an email. I have had radio silence since my debit was electronically whisked away, Is there an investment? Or is this a scam? Does anyone know for sure? please advise. Thank you

    Reply
    • Timothy Holtzclaw on

      My situation is the same as yours Joe.
      I was going to bring it up to $1,100
      but stayed at $550 thank goodness.
      I read that Levin smokes too,but I wish they would lay off long enough to let us know what the hell is going on though.

      Reply
  9. Doreen Scanlon on

    I invested $5.000 thousand in stock at High Times never hear or receive any information about this stock . Please let the infester know what’s going on with stock ! I put a lot of money in hoping everything would go well COME ON HIGH TIMES !!

    Reply
  10. Rodney Watson on

    I cannot figure out why people are getting angry, to me I put my 1000$ on HT’s knowing of all
    there problems, and If my little bit of an investment helps them get things straightened out and there able to get listed, then I will be paid back, I was always told to invest in something you know about, well, im invested heavily into the pot market, with that ill also say I know nothing about magazines and all I have to offer is some common sense, which could all be wrong to, but, well, haha……HT’s is 44 years old, and there is a hell of a lot of room for about the one and only high times magazine, any other publications are either very small or already owned by high times holding corp. I think…….
    I think that as big as pot is going to be in the future, the cannabis cup is going to be just as big, think about it, the cannabis cup was a big deal when pot was completely illegal, so as it becomes more legal through out the world, the cannabis cup will become a bigger event as it goes, 75% of there revenue comes from it, and there brand is marked on everything from bongs to urine test kits, if one day they could attach HT’s to dispensaries and things of that nature, it could be huge, all because of the 44 year head start they have getting there brand out to the public already, to bad there in so much debt, I do hope that they can get it turned around, one day the cannabis cup could be like going to the worlds fair,,,,,,, every year,,,,,,,! At every adult dinner table in the world there could be discussion about the after dinner toke there gonna have and how it was the winner of the cannabis cup they went to, They have a new CEO now that is very capable, I am not angry, I see the potential, I can only get angry with myself for making a decision about something that I did not educate myself about and the have the unexpected happen. if I lose my money, I know why I did and was prepared for that when I invested it in HT’s, and to see what im able to see all about the cannabis industry and a bit of a money flow thing with the cannabis cup then that gives me enough reason to bet a 1000$ on it, why in the hell would anyone invest in something then want there money back when it doesn’t go well and all the info is there to see, I don’t get it…. Good Luck every one!!! And yes you heard it first from me, the Cannabis cup could some day be just like the worlds fair!

    Reply
  11. Jeff on

    There impossible to get a hold of ive called them 5 times left messages there not professional with there responses you think they would care more luckily i only put in 100 i was going to put 1000 or 420 in but Alas it was worth it they helped get the word out about the amazing medicinal cannabis plant norml did the absolute best though please look over what they have done to give us our freedom

    Reply
  12. Joey on

    I invested a small amount in this company, and was happy to do this, I am helping them and in return the investment could help me. Have tried to contact someone there at H.T and have gotten no response’s, I have questions about a company such as High Times that can’t or will not answer there customer’s or ( INVESTORS ) Something is not quite right.

    Reply

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