marijuana stocks

Form 8-K for VAPOR CORP.

26-Jan-2015

Entry into a Material Definitive Agreement, Financial Statements and Exhibits

Item 1.01 Entry into a Material Definitive AgreementOn January 20, 2015, Vapor Corp. (“Vapor”) and Vaporin, Inc. (“Vaporin”) entered into a Securities Purchase Agreement (“Securities Purchase Agreement”) with certain accredited investors providing for the sale of $350,000 of Vaporin’s Convertible Notes (the “Notes”). The Notes accrue interest on the outstanding principal at an annual rate of 10%. The principal and accrued interest on the Notes is due and payable on January 20, 2016. Assuming the merger between Vapor and Vaporin (the “Merger”) closes, the Notes will be convertible into Vapor common stock at the lower of (i) $1.08 or (ii) a 15% discount to a 20-trading day VWAP following the closing of the Merger (subject to a maximum issuance of 525,000 shares). If the Merger does not close, the Notes will not be convertible into either Vapor’s or Vaporin’s stock. Investors were provided with standard piggyback registration rights, which are conditioned on the Merger closing.

The Securities Purchase Agreement and a form of the Note are filed as exhibits under Item 9.01 and are incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits.(d) Exhibits

Exhibit No.    Exhibit

10.1           Securities Purchase Agreement
10.2           Form of Note

 


MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
1 comment
Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Canopy Growth Corporation (WEED.TO) (CGC) MOU with BC Liquor Distribution Branch to Supply British Columbian Market

Canopy Enters MOU with BC Liquor Distribution Branch to Supply British Columbian…

$CGRW Announces Head-House Building To Be Built

CannaGrow Holdings Announces Head-House Building Has Been Ordered for the Colorado Project…

Aphria Inc. (APHA) Announces Independent Proxy Advisory Firms ISS and Glass Lewis Recommend Shareholders Vote

Aphria Inc. Announces Independent Proxy Advisory Firms ISS and Glass Lewis Recommend…

$GBLX Collaborates with NRC Research Institute For Crowdsourcing and Big Data Analytics

GB Sciences and NRC Research Institute Apply Crowdsourcing and Big Data Analytics…