Either I’ve got a contact high or the NY Post just let out some interesting information.
High times, indeed. According to a NY Post article that was posted late last night, Origo Acquisition Corporation’s target, High Times, began a Reg A+ funding round this week, exactly one week after shareholders approved the new completion extension date of September 12th. According to High Times, they hope to raise $20 million via the Reg A+ round.
The article quotes High Times’ Chairman, Adam Levin as saying, “It’s a new path to an IPO,” said Levin. “We raised just over $1 million on Day One from 400 people.” He said High Times Holdings priced at $11 a share.”
Admittedly, I do not have any experience with Reg A+ vehicles, but this raises all sorts of questions. This was not in the proxy statement, but it’s also unclear to me if it needed to be. However, I would think this would be material information.
Secondly, Origo’s cash in trust is currently $15 million. If High Times is raising capital via a Reg A+ vehicle to the tune of $20 million, does this mean the merger is off, or is this a concurrent raise? Can you even do a concurrent raise without completely delaying the merger even further?
Having said that, if High Times already has 400 investors in the Reg A+ deal, that would certainly help solve one of the issues of Origo keeping a Nasdaq listing – needing 450 round lot shareholders. This is assuming the merger is still on because the article’s title is “High Times Plots New Path to IPO”. Emphasis on “New Path,“ so it kind of sounds like it’s off?
If anyone has any experience with Reg A+ funding and can help sort this out, please either leave a comment below this article or email me directly.
You can read the article here.


Terms Tracker for the Week Ending July 3, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re heading into the July 4th holiday, so we’ll keep this week’s column short and to the point. But before you head to the beach,...
Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....