(This story has been updated to correct the company’s valuation.)
The parent of California-based cannabis culture magazine High Times raised more than $5 million in its effort to go public, but that’s still short of the $17.2 million it needs to be listed on the Nasdaq and far from the $50 million it set out to raise.
High Times Holding extended its fundraising deadline by more than a month to allow for more investment.
High Times is looking to garner up to $50 million through a Regulation A+ offering – a relatively new tool that allows companies to raise up to that sum through a wide and unique pool of investors.
Here are the basics:
- With its initial public offering, High Times is offering more than 4.5 million shares of Class A common stock at a price of $11 per share.
- The company has extended its deadline for investing to Oct. 31.
- It claims to have 6,000 investors or supporters to date.
- High Times has said if it doesn’t raise enough to list on the Nasdaq, it will do so on U.S. over-the-counter markets or on Canadian exchanges.
- The company currently has a stated valuation of $225 million – a value “arbitrarily determined by the Company and not based on book value, assets, earnings or any other recognizable standard of value,” according to its SEC filing. A successful raise of the $50 million would place the valuation at $288 million.
- High Times reported $14.5 million in sales in 2017 – down slightly from $14.6 million in 2016, and losses in 2017 amounted to $24.7 million, far more than the $2.9 million in 2016.
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Do Americans smoke enough pot??? Is the question, how much is the demand
I wanted to invest at $11 a share. Have I missed the deadline?
yesterday I bought more at $11 per share even though it started oct 31st was the deadline at $11.
of course you should check
& read the site daily as well as call they are very helpful. hope this helped.
You say you call and they were helpful. What number did you call?
go for it while you can
How do I get the stock?
How do buy shares .
Thanks in advance
Ang
Yes i want to know about my stock
Somebody is doing a very bad job of letting people know about the HIghtimes stock offer !
I wish to know how to buy stocks in this too, how do I go about it?
do we need a brokerage account that costs a bunch of money to invest in this stock and is the deadline past?