Current Report Pursuant to Regulation a (1-u)
01 5월 2020 - 3:05AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
1-U
Current
Report Pursuant to Regulation A
Date
of Report: April 30, 2020
(Date
of earliest event reported)
HIGHTIMES
HOLDING CORP.
(Exact
name of issuer as specified in its charter)
Delaware
|
|
81-4706993
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(State
or other jurisdiction of
incorporation
or organization)
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|
(I.R.S.
Employer
Identification
No.)
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2110
Narcissus Ct.
Venice,
California 90291
(Full
mailing address of principal executive offices)
(844)
933-3287
(Issuer’s
telephone number, including area code)
Title
of each class of securities issued pursuant to Regulation A: Class A voting Common Stock, par value $0.0001 per share
This
Current Report on Form 1-U is issued in accordance with Rule 257(b)(4) of Regulation A, and is neither an offer to sell any securities,
nor a solicitation of an offer to buy, nor shall there be any sale of any such securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such
state or jurisdiction.
ITEM
9. OTHER EVENTS
On
April 30, 2020, Hightimes Holding Corp., a Delaware corporation (the “Company”), announced that in light of the circumstances
and uncertainty surrounding the effects of the COVID-19 coronavirus pandemic on the Company’s business, employees, consultants
and service providers, the Company’s management has determined that it will delay the filing of its annual report on Form
1-K for the year ended December 31, 2019 (the “Annual Report”) by up to 45 days in accordance with the SEC’s
March 26, 2020 Order (Release No. 33-10768) (the “Order”), which allows for the delay of certain filings required
pursuant to Rule 257 of Regulation A of the Securities Act of 1933, as amended. The Company’s operations and business development
have experienced disruption due to the unprecedented conditions surrounding the COVID-19 pandemic spreading throughout the United
States and the world and thus the Company’s business operations have been disrupted and it is unable to timely review and
prepare the Company’s financial statements for the 2019 fiscal year. As such, the Company will be making use of the 45-day
grace period provided by the SEC’s Order to delay filing of its Annual Report. While the Company intends to file its Annual
Report as soon as possible, in no event will the Company file its Annual Report later than June 12, 2020, 45 days after the original
due date of its Annual Report.
In
addition, the Company is supplementing the risk factors previously disclosed in the Company’s Regulation A offering circular
and its Annual Report on Form 1-K for the year ended December 31, 2018, as well as any subsequent Semi-Annual Report on Form 1-SA
and Current Reports on Form 1-U, with the following risk factor:
War,
terrorism, other acts of violence or natural or man-made disasters, including a global pandemic, may affect the markets in which
the Company operates, the Company’s customers, the Company’s delivery of products and customer service, and could
have a material adverse impact on our business, results of operations, or financial conditions.
The
Company’s business may be adversely affected by instability, disruption or destruction in a geographic region in which it
operates, regardless of cause, including war, terrorism, riot, civil insurrection or social unrest, and natural or man-made disasters,
including famine, food, fire, earthquake, storm or pandemic events and spread of disease (including the recent outbreak of the
coronavirus commonly referred to as “COVID-19”). Such events may cause customers to suspend their decisions on purchasing
the Company’s products or services, make it impossible to attend or sponsor events or attend trade shows or other conferences
in which our products and services are presented to customers and potential customers, cause restrictions, postponements and cancellations
of events that attract large crowds and public gatherings such as trade shows at which we have historically presented our products,
and give rise to sudden significant changes in regional and global economic conditions and cycles that could interfere with purchases
of goods or services, commitments to develop new products. These events also pose significant risks to the Company’s personnel
and to physical facilities, transportation and operations, which could materially adversely affect the Company’s financial
results.
Cautionary
Note Regarding Forward-Looking Statements
This
Current Report on Form 1-U contains statements as to the Company’s beliefs and expectations of the outcome of future events
that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. You can identify these
statements by the fact that they do not relate strictly to historical or current facts. Examples of these statements include,
but are not limited to, statements regarding the anticipated impact of the COVID-19 outbreak on travel and physical locations,
the anticipated impact of such outbreak on our results of operations, and possible effect of the postponement and cancellation
of trade shows and events on our overall revenues. These forward-looking statements are subject to risks and uncertainties that
could cause actual results to differ materially from the statements made. These risks and uncertainties include, but are not limited
to, the effects of the COVID-19 outbreak, including levels of consumer, business and economic confidence generally. The duration
of the COVID-19 outbreak and severity of such outbreak, the pace of recovery following the COVID-19 outbreak, the effect on our
supply chain, our ability to implement cost containment and business recovery strategies; and the adverse effects of the COVID-19
outbreak on our business or the market price of our common stock and the risk factors described in our Regulation A Offering Circular,
our annual reports on Form 1-K and semi-annual reports on Form 1-SA, as well as our subsequent filings with the U.S. Securities
and Exchange Commission, including subsequent annual reports on Form 1-K, semi-annual reports on Form 1-SA and current reports
on Form 1-U are uncertain. Except as required by law, the Company does not undertake any obligation to release publicly any revisions
to forward-looking statements made by it to reflect events or circumstances occurring after the date hereof or the occurrence
of unanticipated events.
SIGNATURES
Pursuant
to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
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Hightimes
Holding Corp.
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a
Delaware corporation
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by:
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/s/
Adam E. Levin
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Name:
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Adam
E. Levin
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Its:
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Executive
Chairman of the Board
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Date:
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April
30, 2020
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(USOTC:HTHC)
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