High Times Holding, the company behind High Times, a publication that advocates the legalization of cannabis, will accept investments in the form of Bitcoin and Ethereum.
The move makes the company the first traditional IPO to incorporate cryptocurrencies, according to IPO Edge.
High Times is aiming to raise up to $50 million in a Regulation A+ offering open to any investors. According to CEO Adam Levin, accepting Bitcoin and Ethereum will allow even more investors to consider the company.
“High Times has been at the forefront of popular culture for more than four decades,” Levin said. “Now we’re taking another step into the future, as not only one of the first cannabis-related brands to go public on the Nasdaq, but also as the first to allow Bitcoin and Ethereum as part of our public capital raise.”
The Bitcoin and Ethereum will be converted to U.S. dollars as part of its overall IPO funding.
High Times shares are being offered at $11 each.