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Your email address will not be published.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

Organigram Holdings Inc. (OGRMF) becomes an official supplier of cannabis in the Province of Saskatchewan

Organigram becomes an official supplier of cannabis in the Province of Saskatchewan…

UPDATED: This Marijuana Stock Is Seeing Huge Insider Buying Right Now!

MarijuanaStocks.com always wants to identify opportunities within the cannabis industry that we…

Village Farms International, Inc. (VFF) Partners with One of Asia-Pacific’s Leading Cannabinoid Platforms

Village Farms International Partners with One of Asia-Pacific’s Leading Cannabinoid Platforms, Altum…

TerrAscend Corp. (TRSSF) Announces Closing of US$45.5 Million Non-Brokered Debt Financing

TerrAscend Announces Closing of US$45.5 Million Non-Brokered Debt Financing TerrAscend Corp. (“TerrAscend”…