High Times, the publisher of the marijuana culture magazine of the same name, said on Thursday it is seeking a public listing through a business combination with already listed Origo Acquisition Corp.
High Times’ existing equity is valued at roughly $250 million in the merger, according to a news release. Origo, whose shares were halted for news, will acquire 100% of the equity of High Times in exchange for 23.5 million shares of Origo. Following the transaction, High Times will become a publicly-traded company under the Origo ticker, with High Times controlling 83% of the company. “High Times is one of few household names in the cannabis industry,” said High Times Chief Executive Adam Levin. “We believe that the barriers to entry are substantial, given the respect and trust associated with our brand that comes from informing and entertaining people for over 40 years.” With the legal marijuana industry gaining traction, High Times is looking to diversify its business and capitalize on the industry.