Pot Publication High Times Now Says It Won’t Accept Bitcoin in IPO

Marijuana advocacy publication High Times is walking back a previous announcement indicating that it would accept bitcoin when it launches its initial public offering (IPO).

The company said last week that it would accept bitcoin and ether – the cryptocurrency of the ethereum network – as part of its IPO, which seeks to raise as much as $50 million. At the time, according to a press release, CEO Adam Levin said the company was “taking another step into the future, not only as one of the first cannabis-related brands to go public on the Nasdaq but also as the first to allow bitcoin and ether as part of our public capital raise.”

However, on August 13, it clarified in a filing with the U.S. Securities and Exchange Commission that this announcement was a mistake, and the company would not actually be accepting bitcoin.

“On August 3, 2018, the Company published a press release relating to its Regulation A+ offering stating that it would accept bitcoin as a form of payment for…