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Home 🌿 Marijuana Business News 🌿 Dawson James Acts as Sole Underwriter for Vapor Corp (VPCO) in Its $41.8m Follow-On 🌿

Dawson James Acts as Sole Underwriter for Vapor Corp (VPCO) in Its $41.8m Follow-On

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Submitted by Marijuana News on Fri, 07/24/2015 - 14:46

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...

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