Vapor Corp. Announces Commencement of Public Offering

Jul 24, 2015, 09:00 ET from Vapor Corp.

DANIA BEACH, Fla., July 24, 2015 /PRNewswire/ -- Vapor Corp. (NASDAQ CM: VPCO) ("Vapor"), a leading U.S.-based distributor and retailer of vaporizers, e-liquids, e-cigarettes and e-hookahs, announced today that it has launched 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 preferred stock and 20 Series A warrants.  Each one-fourth 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 Units will automatically separate into the Series A preferred stock and Series A warrants on January 23, 2016, provided that the Units will separate earlier if at any time after August 24, 2015, the closing price of Vapor's common stock is greater than $2.48 per share for 10 consecutive trading days, the Units are delisted, or the Series A warrants are exercised for cash (solely with respect to the Units that included the exercised Series A warrants).   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.

Dawson James Securities, Inc. is serving as the sole book runner for the offering. The offering will be made only by means of a prospectus. Copies of the preliminary prospectus related to the offering may be obtained from Dawson James Securities, Inc., Attention: Prospectus Department, 1 North Federal Highway, 5th Floor, Boca Raton, FL 33432, mmaclaren@dawsonjames.com or toll free at 866.928.0928.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Vapor Corp.

Vapor Corp., a Nasdaq company, is a U.S. based distributor and retailer of vaporizers, e-liquids and electronic cigarettes. It recently acquired the retail store chain "The Vape Store" as part of a merger with Vaporin, Inc. The Company's innovative technology enables users to inhale nicotine vapor without smoke, tar, ash or carbon monoxide. Vapor Corp. has a streamlined supply chain, marketing strategies and wide distribution capabilities to deliver its products. The Company's brands include VaporX®, Krave®, Hookah Stix® and Vaporin™ and are distributed to retail stores throughout the U.S. and Canada. The Company sells direct to consumer via e-commerce and Company-owned brick-and-mortar retail locations operating under "The Vape Store" brand. 

Forward-Looking Statements 

Certain statements in this press release may be deemed to be forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, our ability to complete the proposed public offering of the Units described above and the expected listing of the Units on Nasdaq. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially. These risk and uncertainties include, but are not limited to a lack of interest in the Company and the Units being offered and unexpected issues with our listing application with Nasdaq and other risks set forth in the Company's filings with the Securities and Exchange Commission, including the risks set forth in the Company's Form S-1/A filed with the SEC on July 23, 2015.  These forward-looking statements speak only as of the date hereof and the Company specifically disclaims any obligation to update these forward-looking statements, except as required by law.

SOURCE Vapor Corp.