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| Home : Dawson James Acts as Sole Underwriter for Vapor Corp (VPCO) in Its $41.8m Follow-On |
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Jul 25
2015 |
Dawson James Acts as Sole Underwriter for Vapor Corp (VPCO) in Its $41.8m Follow-On |
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BOCA RATON, FL--(Marketwired - July 24, 2015) - Dawson James Securities, Inc. in conjunction with Vapor Corp. (NASDAQ: VPCO), a leading U.S.-based distributor and retailer of vaporizers, e-liquids, e-cigarettes and e-hookahs, announced today the closing of a "best efforts" follow-on offering of up to 3,800,000 Units at $11.00 per Unit for a maximum gross proceeds of $41.8 million. Each unit consists of one-fourth of a share of Series A convertible preferred stock and 20 Series A warrants. Each share of Series A preferred stock will be convertible into 10 shares of common stock and each Series A warrant will be exercisable into one share of common stock at an initial exercise price of $1.24 per share. The Unit will remain "locked" for 6 months unless certain stipulations are met. The Units are expected to be listed on The Nasdaq Capital Market under the ticker symbol "VPCOU." The initial closing is expected to occur on July 29, 2015 and trading of the Units on The Nasdaq Capital Market is expected to commence on July 30, 2015. |
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| Source:http://www.marketwired.com/mw/release.do?id=2041666&sourceType=3 |
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