Business
Vapor Corp. Announces Reverse Stock Split
Vapor Corp. Announces Reverse Stock Split.
About this update from Healthier Choices Management Corp.
[{"type":"text","content":"\n\n\n\nVapor Corp. Announces Reverse Stock Split\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 Reverse Stock Split\nPR Newswire\nDANIA BEACH, Fla., June 1, 2016\n\n\n\nDANIA BEACH, Fla., June 1, 2016 /PRNewswire/ -- Vapor Corp. (OTCQB: VPCO) (the \"Company\"), a leading U.S.-based distributor and retailer of vaporizers, e-liquids, e-cigarettes and e-hookahs, today announced that effective at 5:00 pm, Eastern Time, on June 1, 2016 (the \"Effective Time\"), the Company will effect a one-for-20,000 reverse stock split of its outstanding common stock. On March 21, 2016, the Company's stockholders approved an amendment to the Company's Amended and Restated Certificate of incorporation to effect the reverse stock split at a ratio between 1-for-10,000 and 1-for-20,000. The Board of Directors approved the implementation of a reverse stock split and determined the appropriate reverse stock split ratio to be 1-for-20,000.\n\nAs a result of the reverse stock split, every 20,000 shares of the Company's common stock issued and outstanding as of the Effective Time will be consolidated into one issued and outstanding share, except to the extent that the reverse stock split results in any of the Company's stockholders owning a fractional share, which would be rounded up to the next highest whole share.\n\nQuotation of the Company's common stock will continue, on a split-adjusted basis, with the opening of the markets on Thursday, June 2, 2016, under the trading symbol \"VPCOD\" under the new CUSIP number 922099700. The reverse stock split reduces the number of shares of the Company's common stock outstanding from approximately five billion pre-reverse split shares to approximately 250,000 post-reverse split.\n\nStockholders of record who hold physical certificates should submit their old certificates to the Company's transfer agent, Equity Stock Transfer, LLC, in order to obtain new certificates. Stockholders owning shares via a broker or other nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to brokers' partic...