If you wanted to use cryptocurrency to buy a piece of the High Times initial public offering, you’re too late. That payment option has been removed from the company’s investors page, according to CoinDesk.
In addition, a recent SEC filing shows the IPO, which was originally set to end on Sept. 12, was extended through Oct. 31. The marijuana-centric publication wants to raise $50 million from the IPO.
In a filing with the Securities and Exchange Commission last month, High Times said its previous announcement that it would accept payment in cryptocurrency was in error. But that also turned out to be untrue, according to CoinDesk. High Times was taking payments in ether (ETH) and bitcoin (BTC) all along. A spokesperson told CoinDesk the company used a third-party processor to convert the cryptocurrencies into dollars, which were then sent to High Times.
So was someone at the SEC sniffing a strange odor wafting from the publication’s books? No one at the publication would comment on the report. Read more here.