High Times Holding Corporation has started accepting cryptocurrencies in their IPO.
High Times Holdings Corporation, a part of Cannabis culture media, the first traditional stock offering to accept cryptocurrency investments with ICO regulation.
It will accept Ethereum and Bitcoin as investments. This is an effort which the company wants to attract investments into the company. A spokesperson from the company stated that they didn’t believe that ICO was the proper way ahead for the company, he stated that it would have been silly to not target the emerging investor base. The company is hoping to transform into diversified merchandise, events, and media expert.
With the IPO about to launch, high Times has already filed a regulation A+ report with the SEC of US. According to the report $29 million in the reduction of negative equity, decrease in operating losses, and debt reduction is on cards.
In 2015, SEC changed their rule allowing startups and other small companies to use mini IPO to attract their customers, and then make a potential investor of a firm with the ICO regulation. With the help of this regulation, even small business can crowdsource about $50 million for the members of the public.
Before the change in the rule, most of the private company used to look for investment only from the accredited investors. These investors are mostly the wealthiest and smallest portion of the population. Investors will now be able to purchase a share in the company for about $11, price with the company is about 10 percent discount when it is listed on Nasdaq, sometime later this year.
According to Coin Telegraph, this ICO regulation is also a part of the organization’s mission to be on the top of the popular culture. This is certain to attract a lot of investors with the company targeting two of the major coins of a crypto market.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]