Hightimes Holding Corp. said it has completed the next step of its public listing process after it received a trading symbol from the Financial Industry Regulatory Authority (FINRA). The approval will advance the company toward its goal of listing on the public markets by next year.
“This is a big step for the company and the High Times brand. The listing of the company’s stock will give us a trading currency that will assist us in furthering our acquisitional goals. There is no better time to roll out this next evolution as we enter the cannabis retail space. With the lessons we’ve learned from other operator’s mistakes, great management, and the current state of the industry, now is the time for High Times to thrive!“ — Adam Levin, Executive Chairman of Hightimes Holding Corp., in a press release
The move also signals the impending end of the brand’s Regulation A offering, which lets the company sell stock directly to the public instead of going through an official market. That offering was launched in 2018.
“With over 23,000 investors, this has been one of the most widely subscribed to offerings in history – across any industry,” Levin said. “We’ve proven the strength of our brand, and of the community we represent. We’re excited for this next step.”
While the High Times brand soldiers on, however, the historic High Times magazine has struggled lately; reports surfaced in December that suggested the magazine’s future was in doubt. In November, the company shuttered the Seattle offices for DOPE Magazine, which High Times acquired in September 2018. The company is instead expected to expand its footprint with a new, retail-focused business model.
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