(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.
Cannabis industry workers and executives can earn more than their mainstream counterparts.
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 agree. I have heard nothing and when I inquire. I get simple one word answers. I’ve never bought stock so I’m just waiting to receive mine.
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?
As of this past week, they’re still taking investors: https://hightimesinvestor.com/
You got to hightimesinvestors.com and it’s still at 11 a share with a min buy in at 99 bucks
After reading how this company is in debt. I really want my 99 bucks back. I didn’t feel like this was a risky move but after reading several articles. Hightimes is in debt and their income overall has declined. I invested like 6 or more months ago and they have not reached their goal?? How much longer til this goes public. Right now I’ll take my 99 bucks back. Little worried about this company now. Looks like the owner as I read is shady. Sighs ?
Unless I’m misunderstanding what I’m reading we will eventually have our money refunded if they don’t reach their goal. That was $17M to launch the IPO on the NasDaq. Glad I only put $1100 into this. Sometimes I get too hasty thinking something sounds like a really good opportunity, I just about went for a $5000 investment. People that aren’t familiar with trading should understand that you can lose your money in a heart beat just like playing the one arm bandit In the casinos. At least in stocks if you lose money you can report it on your taxes and reduce the amount of taxes you owe and basically resulting in getting your money back. I hate to bet against a stock offering that I’m invested in but I would bet this isn’t going anywhere. I did get a nice fleece jacket with a pot leaf on it.
exactly what i did, what i am thinking, and what i recommend haha high times? no, high five!
im a fairly seasoned investor and invested a k in this company – do not recommend it. terrible communication with our its shareholders and they are most likely going to be going otc. wait till they go otc then buy if you’re interested. patience will be a virtue in this one. they say they wanted 50 mil; they are way short of that. do not buy haha im probably going to lose half or more of my investment right of the back when they go list.