Close Menu
  • Home
  • News
  • Lifestyle
  • Law
  • Business
  • Education

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

May 30, 2025

U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

May 29, 2025

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025
Facebook X (Twitter) Instagram
Sunday, June 1
  • Home
  • Contact
  • Privacy Policy
  • Terms & Conditions
Facebook X (Twitter) Instagram LinkedIn VKontakte
Smoke Professional
  • Home
  • News

    More Than 1,000 Arrested in Sweep of U.K. Weed Grows

    July 8, 2023

    Scotland Calls On UK To End ‘Failed’ Drug War With Decriminalization And Harm Reduction Approach

    July 8, 2023

    Germany’s draft law for first phase of cannabis reform

    July 8, 2023

    High Times Cannabis Cup Illinois: People’s Choice Edition 2023 Kicks Off

    July 8, 2023

    Pennsylvania Committee Advances Expansion to State Medical Cannabis Program

    July 7, 2023
  • Lifestyle

    How Watching the News Can Trigger Anxiety and Panic Attacks

    October 28, 2024

    Record High Cannabis and Hallucinogen Use Among Adults

    October 27, 2024

    Weekend Sleep Catch-Up May Lower Heart Disease Risk by 20%

    October 27, 2024

    Energy Drinks Linked to Poor Sleep Quality and Insomnia

    October 26, 2024

    First Psychedelic Church for Magic Mushrooms

    October 26, 2024
  • Law

    Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

    May 30, 2025

    Federal Lawmakers Call for Medicaid Fraud Investigation Into Florida Anti-Cannabis Political Group

    May 26, 2025

    Minnesota Ends Criminal Penalties for Bong Water

    May 23, 2025

    Minnesota Bill to Set Up Adult-Use Cannabis Industry Moves to Governor

    May 22, 2025

    Pennsylvania House Passes Cannabis Legalization Bill

    May 8, 2025
  • Business

    U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

    May 29, 2025

    Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

    May 28, 2025

    Minnesota Tribe Signs Agreements to Open Adult-Use Dispensaries Off Tribal Land

    May 28, 2025

    Washington to Issue New Social Equity Cannabis Licenses This Summer

    May 27, 2025

    DEA Raid Confiscates Over 29,000 Cannabis Plants in New York

    May 26, 2025
  • Education

    CBD and the Aging Population—What Science Says Today

    March 12, 2025

    Wholesale Nootropic Skincare: Boost Your Product Line

    March 10, 2025

    Ideal for Your Business Needs

    March 8, 2025

    A Must-have For Every Smoke Shop

    March 3, 2025

    The Perfect Addition to Your Product Line

    March 1, 2025
Smoke Professional
You are at:Home»Business»High Times Unveils Deal with Nasdaq-Listed Lucy Scientific Discovery to Enter Public Market
Business

High Times Unveils Deal with Nasdaq-Listed Lucy Scientific Discovery to Enter Public Market

adminBy adminSeptember 7, 2023No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
High Times Unveils Deal with Nasdaq-Listed Lucy Scientific Discovery to Enter Public Market
Share
Facebook Twitter LinkedIn Pinterest Email

Celebrating a milestone in its nearly 50-year history of informing readers and bringing cannabis culture to the masses, Hightimes Holding Corp. announced today the culmination of a years-long ambition: to bring the cultural cornerstone to the public markets. The time has come.

Via a strategic transaction with Lucy Scientific Discovery (NASDAQ: LSDI), High Times stockholders will soon be receiving shares of common stock of Lucy, a Nasdaq-listed company. The transaction includes the divestment of all core High Times intellectual property (IP), brand, licensing, and non-plant touching, ancillary assets to Lucy, in exchange for 19.9% of the Lucy publicly-traded company’s shares.

“High Times has been a trailblazer in shaping the cannabis landscape for generations,” said High Times Executive Chairman Adam Levin as the deal was announced. “Our dedication to authentic journalism, groundbreaking events, and responsible advocacy remains unwavering. We look forward to the next chapter of High Times, as we continue to inspire, educate, and elevate.”

It’s a realization of efforts to move into the U.S. public marketplace that’s traditionally been impenetrable to most companies that touch cannabis.

Celebrating High Times’ 50th Anniversary

Established by Thomas King Forçade in 1974, High Times has shaped the narrative around cannabis culture since its inception, now dating back 50 years. Throughout the decades, High Times rivaled mainstream magazine circulation and sales of publications like Rolling Stone and National Lampoon and interviewed everyone from Allen Ginsberg and Stephen King to Bob Marley and Andy Warhol. High Times harnesses its magazine, online presences, and the world-renowned Cannabis Cup events, to become the indisputable leading voice in the counterculture movement that has withstood adversity at nearly every step of the way. 

Lucy Scientific Discovery, on the other hand, is a world leader and pioneer in the psychotropic and cannabis spaces amid a psychedelic renaissance in the field of medicine. At its helm is CEO Richard Nanula, who led and grew multiple Fortune 500 companies, filling executive roles at Disney, Starwood Hotels and Resorts, and AMGEN Inc. 

The transaction is exciting to stakeholders, customers, and investors for many reasons, with one in particular: It gives  people the opportunity to invest directly into the High Times brand. It also represents a strategic realignment of Lucy’s approach of acquiring brands that appeal to the broader psychotropic and cannabinoid community.

What the Transaction Means

The assets being transferred to Lucy as part of the transaction include all IP assets of certain Hightimes subsidiaries, including the company’s trademarks and the HighTimes.com, CannabisCup.com, and 420.com brands and domain names. At closing, Lucy will arrange to license back to Hightimes under a long-term license of up to 50 years, the acquired IP to enable the company and its subsidiaries to use the trademarks and brands in connection with its adult-use cannabis operations in the U.S., and finally to franchise such rights to others engaged in the production, sale, and distribution of adult-use cannabis in states where it is legal.

The deal is structured as an all-stock transaction with earnouts for specific milestone payments from EBITDA (earnings before interest, taxes, depreciation, and amortization) generated by the acquired IP for the next five Lucy fiscal years ending on June 30, 2028. Earnout payments may be made in the form of cash or in additional Lucy shares, at Lucy’s option. All earn-out payments—-whether in cash or Lucy shares—will be distributed to more than 40,000 Hightimes stockholders.

A prime motivation for Hightimes to engage in the Lucy transaction is to enable the Hightimes stockholders to own equity in a Nasdaq-listed company. It’s an achievement, given the fact that under current federal law and Nasdaq regulations, companies engaged in the production, sale, and distribution of THC-containing cannabis are not eligible to list their shares on Nasdaq.

For almost 50 years, High Times has become the world’s most well-known cannabis brand—championing the lifestyle and informing the masses on the many benefits of cannabis. 

From its humble beginnings as a counterculture lifestyle publication, High Times has evolved into a rapidly growing network of retail locations, the host and creator of industry-leading events like the Cannabis Cup, the producer of globally-distributed merchandise, benefactor of international licensing deals, and provider of content for millions of fans and supporters across the globe. 

In the world of cannabis, High Times is the most trusted arbiter of quality.

For more information on investor relations, visit ir.hightimes.com.

Source link

Deal Discovery Enter High Lucy market NasdaqListed Public Scientific Times Unveils
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleMore than 600% Increase in Cannabis Clinical Trials Since 2010
Next Article South Dakota Considers Increasing Possession Limits for Cannabis Patients
admin
  • Website

Related Posts

U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

May 29, 2025

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025

Minnesota Tribe Signs Agreements to Open Adult-Use Dispensaries Off Tribal Land

May 28, 2025

Comments are closed.

Our Picks

Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

May 30, 2025

U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

May 29, 2025

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025

Minnesota Tribe Signs Agreements to Open Adult-Use Dispensaries Off Tribal Land

May 28, 2025
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss
Law

Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

By adminMay 30, 20250

Republican lawmakers in Ohio are seeking to make changes to the 2023 cannabis legalization law approved…

U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

May 29, 2025

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025

Minnesota Tribe Signs Agreements to Open Adult-Use Dispensaries Off Tribal Land

May 28, 2025

Subscribe to Updates

Get the latest creative news from Smoke Unlimited about Weed & CBD vaping.

From Our Partners
About Us
About Us

Get all the current news stories, latest trends and legislation regarding cannabidiol, products, usages and its benefits. So don’t miss out any buzz and stay tuned! We offer a minute to minute updates regarding Marijuana industry.

Facebook X (Twitter) Instagram Pinterest
Our Picks

Ohio GOP Seeking to Change Voter-Approved Adult-Use Cannabis Law

May 30, 2025

U.S. Court of Appeals Rejects Legal Challenge Claiming Cannabis Prohibition is Unconstitutional

May 29, 2025

Montana Gov. Signs Bill Reserving $12M of Cannabis Tax Revenues for ‘Habitat Legacy Account’

May 28, 2025
Sponsors
Copyright © 2025. SmokeProfessional
  • Home
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.