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Your email address will not be published.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

$VHUB International Pays Third Installment Of Interest Fees

Vapor Hub International Pays Third Installment Of Interest, Fees Due on Promissory…

Lifestyle Delivery Systems Inc. (LDSYF) announces CSPA Group Inc. and LDS Scientific’s Launch of the New Luxury Product Line Rêveur

VANCOUVER, British Columbia, March 22, 2018 /PRNewswire/ — Lifestyle Delivery Systems Inc.…

$CANV Sciences Sponsors The Healthy and Natural Show at Chicago’s Navy Pier

CV Sciences Sponsors The Healthy and Natural Show at Chicago’s Navy Pier…

Leafbuyer Technologies, Inc. (LBUY) Pivots Strategy as Dispensaries Deemed ‘Essential’

Leafbuyer Technologies, Inc. Pivots Strategy as Dispensaries Deemed ‘Essential’ Leafbuyer Technologies, Inc. (“Leafbuyer”…