marijuana stocks news

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Your email address will not be published.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

Curaleaf Holdings, Inc. (CURLF) Announces Opening Of 48th Street Location In Phoenix, Arizona

Curaleaf Announces Opening Of 48th Street Location In Phoenix, Arizona Curaleaf Holdings,…

Aphria (APHA) Sign Deal to Develop Cannabis Transdermal Patches

Aphria, Manna Sign Deal to Develop Cannabis Transdermal Patches Aphria (TSX: APHA) (NYSE: APHA) said…

Innovative Industrial Properties, Inc.(IIPR) Properties Acquires Ohio Property and Enters Into Long-Term Lease

Innovative Industrial Properties Acquires Ohio Property and Enters Into Long-Term Lease with…

FDA Grants INSYS Therapeutics, Inc. (INSY) Fast Track’ Designation for (CBD) Oral Solution as Investigational Treatment

FDA Grants INSYS Therapeutics ‘Fast Track’ Designation for Cannabidiol (CBD) Oral Solution…