Business
Vapor Corp. Announces Intention to Conduct Tender Offer for Repurchase of Outstanding Series A Warrants
Vapor Corp. Announces Intention to Conduct 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 Intention to Conduct 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 Intention to Conduct Tender Offer for Repurchase of Outstanding Series A Warrants\nPR Newswire\nHOLLYWOOD, Fla., Dec. 6, 2016\n\n\n\nHOLLYWOOD, Fla., Dec. 6, 2016 /PRNewswire/ -- Vapor Corp. (OTC Pink: VPCO) (\"Vapor\" or the \"Company\") announced today that it intends to conduct a tender offer to purchase up to approximately 32 million 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 to be paid by the Company of up to approximately $7.1 million.\n\nVapor has approximately 59 million outstanding Series A Warrants. The number of Series A Warrants that Vapor will be offering to purchase is approximately 54 percent of its outstanding Series A Warrants. The Series A Warrants are not listed for trading on any market. All of these 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 will not be conditioned on any minimum number of Series A Warrants being tendered. However, the tender offer is subject to certain other conditions.\n\nEach outstanding Series A Warrant currently represents the right to (1) effect a cashless exercise permitting the holder to receive shares of Company common stock under a formula set forth in the Series A Warrants or (2) purchase one share of common stock for $1.24 per share in a cash exercise. Currently, under the formula for a cashless exercise, each Series A Warrant represents the right to receive approximately 10,849 shares of common stock.    \n\nThe Company expects to commence the tender offer following the filing of Tender Offer Statement on Schedule TO with the Securities and Exchange Commission setting forth the terms of the tender offer.\n\nImportant Notice\n\nThis press release is for informational purposes only and is neither an offer ...