Business
Vapor Corp. Enters Into Standstill Agreements With Holders Of Its Series A Warrants
Vapor Corp. Enters Into Standstill Agreements With Holders Of Its Series A Warrants.
About this update from Healthier Choices Management Corp.
[{"type":"text","content":"\n\n\n\nVapor Corp. Enters Into Standstill Agreements With Holders Of Its 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. Enters Into Standstill Agreements With Holders Of Its Series A Warrants\nPR Newswire\nDANIA BEACH, Fla., Feb. 17, 2016\n\n\n\nDANIA BEACH, Fla., Feb. 17, 2016 /PRNewswire/ -- Vapor Corp. (OTC PINKSHEETS: VPCO) (the \"Company\"), a leading U.S.-based distributor and retailer of vaporizers, e-liquids, e-cigarettes and e-hookahs, announced today that certain holders (each, a \"Holder\") of the Company's Series A Warrants (the \"Series A Warrants\") have entered into standstill agreements with the Company (each, a \"Standstill Agreement\"), pursuant to which, among other things, each Holder agreed not to exercise their Series A Warrants pursuant to the \"cashless exercise\" provisions of the Series A Warrants prior to April 15, 2016, in whole or in part, which period may be extended in certain circumstances.  These circumstances include the Company being delayed beyond April 15, 2016 in meeting the requirements for listing or quotation on the OTCQX or the OTCQB.  The Standstill Agreements may be amended by Holders owning a majority of the issued and outstanding Series A Warrants executing the Standstill Agreements.  The Company is seeking to obtain Standstill Agreements from all of the holders of Series A Warrants. \n\nIn addition, the Company has disclosed it no longer meets the \"Equity Conditions\" required to issue Company common stock to fulfill a cashless exercise pursuant to Section 1(d) of its Series A Warrants.  The Company, therefore, can no longer elect to issue Company common stock in lieu of delivering of a cash payment upon an exercise pursuant to Section 1(d) of the Series A Warrants.  The Company is seeking to meet the requirements for quotation on the OTCQX or the OTCQB to comply with the Equity Conditions of the Series A Warrants, including through the implementation of the 1:70 reverse stock split previously approved by the Company's stockholders.\n\nAbout Vapor Corp. Vapor Cor...