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 nickt@mjbizdaily.com

27 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
  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
    • 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

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