Vapor may sell $24 million convertible preferred units in public sale

By Devika Patel

Knoxville, Tenn., June 1 – Vapor Corp. will sell up to $24 million of series A convertible preferred stock, which will be sold in units through a public sale, according to a Form S-1 filed Monday with the Securities and Exchange Commission.

Each unit includes preferreds and warrants. The preferreds are convertible into common shares.

Dawson James Securities, Inc. is the bookrunner.

Proceeds will be used for debt repayment, acquisitions or development of vape stores, marketing and general corporate purposes, including working capital.

Based in Fort Lauderdale, Fla., Vapor makes and sells electronic cigarettes.

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