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Vapor Corp. Enters Into Third Amended and Restated Standstill Agreements With Holders Of Its Series A Warrants
Vapor Corp. Enters Into Third Amended and Restated 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 Third Amended and Restated 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 Third Amended and Restated Standstill Agreements With Holders Of Its Series A Warrants\nPR Newswire\nDANIA BEACH, Fla., May 3, 2016\n\n\n\nDANIA BEACH, Fla., May 3, 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, announced today that the Series A Warrant Standstill Agreements (the \"Amended Standstill Agreements\") have been amended and restated pursuant to which, among other things, each holder (each, a \"Holder\") of the Series A Warrants agreed not to exercise their Series A Warrants pursuant to the \"cashless exercise\" provisions of the Series A Warrants prior to the earlier of (1) June 2, 2016, or (2) the date the Company completes its previously approved reverse stock split (the \"Standstill Date\").  Pursuant to the terms of the Amended Standstill Agreements, in the event the reverse stock split does not occur prior to June 2, 2016, the Holders agree to receive only common stock (and not cash) pursuant to any exercise of their Series A Warrants until the date of the reverse stock split.  For the period through the Standstill Date, the number of Series A Warrants the Holders would have been permitted to exercise will roll over and cumulate and will be exercisable after the Standstill Date.  More than 85% of the Series A Warrants are subject to the Amended Standstill Agreement.\n\nAbout Vapor Corp. Vapor Corp. is a U.S. based distributor and retailer of vaporizers, e-liquids and electronic cigarettes. It recently acquired the retail store chain \"The Vale Store\" as part of a merger with Vaporin, Inc. The Company's innovative technology enables users to inhale nicotine vapor without smoke, tar, ash or carbon monoxide. Vapor Corp. has a streamlined supply chain, marketing strategies and wide distribution capabilities to deliver its products. T...