Vapor Corp (OTCMKTS:VPCO) has extended its previously reported tender offer to buy its outstanding Series ‘A’ Warrants, in accordance with the pertinent regulations and rules governing tender offers, until January 17, unless further terminated or extended.
The tender offer to buy Series “A” Warrants was previously planned to expire at January 9, 2017. Vapor is planning to buy up to around 32.262 million of its outstanding Series “A” Warrants at a buy price of $0.22 a warrant in cash, without interest, for a total purchase price of up to almost $7.1 million. As of January 9, around 10.173 million Series “A” Warrants have been proposed and not withdrawn.
The highlights
Holders of Series “A” Warrants seeking to participate in the tender proposal should follow the processes set forth in Vapor’s proposal to purchase dated December 7 and the associated letter of transmittal. Okapi Partners is the information agent for the Tender Offer, and the depositary for the proposal is Equity Stock Transfer, LLC. The Letter of Transmittal, the Offer to Purchase, and linked documents have been given to holders of the Series “A” Warrants.
Earlier in December, the company released a PR reported that it has appointed Mr. John A. Ollet to become the firm’s new Chief Financial Officer. Jeffrey Holman, the CEO of Vapor, said that they are extremely delighted to welcome Ollet to the Vapor executive team. He has extensive financial experience that Vapor requires as they continue to advance their acquisition and growth strategy. It is an exciting phase in their firm’s growth and Ollet’s strong public firm experience makes him a best fit for their organization.
Mr. Ollet initially served as Executive VP-Finance for Systemax Inc. (NYSE:SYX) North America Technology segment from 2006 to 2016. His previous chief financial officer experience comprises serving as Vice President and CFO of Arrow Cargo Holdings, Inc., and CFO/ VP Finance – The Americas – Cargo segment with KLM Royal Dutch Airlines.
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