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Your email address will not be published.

You May Also Like

Better Choice Company (BTTR) to Host First Quarter 2022 Earnings Call on May 12th at 8:30 a.m. ET

Better Choice Company to Host First Quarter 2022 Earnings Call on May…

Jushi Holdings Inc. (JUSHF) Increases Equity Ownership Interest in Dalitso LLC

Jushi Holdings Inc. Increases Equity Ownership Interest in Dalitso LLC, the Company’s…

$PNTV Releases Shareholder Update

Players Network Shareholder Update and Medical Cannabis Establishment Approval Green Leaf Farms…

Ayr Wellness Inc. (AYRWF) Announces First Sale from 80,000 Sq. Ft. Phoenix Cultivation Facility

Ayr Wellness Announces First Sale from 80,000 Sq. Ft. Phoenix Cultivation Facility,…