Business
Vapor Corp. Announces Commencement Of Tender Offer For Repurchase Of Outstanding Series A Warrants
Vapor Corp. Announces Commencement Of Tender Offer For Repurchase Of Outstanding Series A Warrants.
About this update from Healthier Choices Management Corp.
[{"type":"text","content":"\n\n\n\nVapor Corp. Announces Commencement Of Tender Offer For Repurchase Of Outstanding Series A Warrants\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nVapor Corp. Announces Commencement Of Tender Offer For Repurchase Of Outstanding Series A Warrants\nPR Newswire\nHOLLYWOOD, Fla., Dec. 7, 2016\n\n\n\nHOLLYWOOD, Fla., Dec. 7, 2016 /PRNewswire/ -- Vapor Corp. (OTC Pink: VPCO) (\"Vapor\" or the \"Company\") today announced that it has commenced a tender offer to purchase up to 32,262,152 of its outstanding Series A Warrants (the \"Series A Warrants\") at a purchase price of $0.22 per warrant, in cash, without interest, for an aggregate purchase price of up to approximately $7.1 million.\n\nAs of December 5, 2016, Vapor had 58,986,283 outstanding Series A Warrants. The number of Series A Warrants that Vapor is offering to purchase represents approximately 54 percent of its outstanding Series A Warrants. The Series A Warrants are not listed for trading on any market. Each outstanding Series A Warrant can be exercised for common stock on a fixed price basis, or on a cashless basis for a variable number of shares, with the ratio depending in part on the market value of the Company's common stock. Any figures with respect to the Series A Warrants do not give effect to the two reverse splits of the Company common stock in 2016.\n\nThe tender offer is not conditioned on any minimum number of Series A Warrants being tendered. However, the tender offer is subject to certain other conditions.\n\nIf more than 32,262,152 Series A Warrants are duly tendered and not properly withdrawn, Vapor will purchase Series A Warrants from tendering warrant holders on a pro rata basis (disregarding fractions), in accordance with the number of Series A Warrants duly tendered by or on behalf of each warrant holder (and not so withdrawn). The tender offer will expire at midnight, Eastern Time, on January 9, 2017, or such later time and date to which Vapor may extend the tender offer. \n\nOkapi Partners is acting as the information agent for the tender offer, and the depositary for the tender offer i...