HOLLYWOOD, Fla., Dec. 6, 2016 /PRNewswire/ -- Vapor Corp.
(OTC Pink: VPCO) ("Vapor" or the "Company") announced today that it intends to conduct a tender offer to purchase up to
approximately 32 million of its outstanding Series A Warrants (the "Series A Warrants") at a purchase price of $0.22 per warrant, in cash, without interest, for an aggregate purchase price to be paid by the Company of up
to approximately $7.1 million.
Vapor has approximately 59 million outstanding Series A Warrants. The number of Series A Warrants that Vapor will be offering
to purchase is approximately 54 percent of its outstanding Series A Warrants. The Series A Warrants are not listed for trading on
any market. All of these figures with respect to the Series A Warrants do not give effect to the two reverse splits of the
Company common stock in 2016.
The tender offer will not be conditioned on any minimum number of Series A Warrants being tendered. However, the tender offer
is subject to certain other conditions.
Each outstanding Series A Warrant currently represents the right to (1) effect a cashless exercise permitting the holder to
receive shares of Company common stock under a formula set forth in the Series A Warrants or (2) purchase one share of common
stock for $1.24 per share in a cash exercise. Currently, under the formula for a cashless exercise,
each Series A Warrant represents the right to receive approximately 10,849 shares of common stock.
The Company expects to commence the tender offer following the filing of Tender Offer Statement on Schedule TO with the
Securities and Exchange Commission setting forth the terms of the tender offer.
Important Notice
This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to
purchase any of the Company's securities. The offer to repurchase the Series A Warrants will be made only pursuant to the Tender
Offer, the Letter of Transmittal and other materials that will be mailed to holders of the Series A Warrants eligible to be
purchased in the Tender Offer and will be filed with the Securities and Exchange Commission. Holders of securities eligible
to be purchased in the Tender Offer should read those materials and the documents incorporated therein by reference carefully
because they will contain important information, including the various terms of, and conditions to, the Tender Offer. The
Company will file a Tender Offer Statement on Schedule TO with the Securities and Exchange Commission, which includes an Offer
Letter, the related election to participate and other materials, and will be available at no charge at the Securities and
Exchange Commission's website at www.sec.gov. Holders of
securities eligible to be repurchased in the offer are urged to read those materials carefully prior to making any decisions with
respect to the Tender Offer.
About Vapor Corp.
Vapor Corp. is a U.S. based retailer of vaporizers, e-liquids and electronic cigarettes. Vapor Corp. has a streamlined supply
chain and marketing strategies. The Company sells direct to consumer via Company-owned brick-and-mortar retail locations
operating under "The Vape Store" brand.
Through its wholly owned subsidiary, Healthy Choice Markets, Inc., the Company also operates natural and organic grocery
operations. The initial store acquired for these operations in June 2016 is Ada's Natural Market in
Ft. Myers, Florida.
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SOURCE Vapor Corp.