Healthier Choices Management Corp. Reports Material Definitive Agreement
Ticker: HCMC · Form: 8-K · Filed: Jul 24, 2024 · CIK: 844856
Sentiment: neutral
Topics: material-definitive-agreement, acquisition, financing
TL;DR
Healthier Choices Management Corp. just signed a big deal - acquisition or asset sale confirmed, with new financial obligations.
AI Summary
On July 18, 2024, Healthier Choices Management Corp. entered into a material definitive agreement related to the completion of an acquisition or disposition of assets. This also resulted in the creation of a direct financial obligation for the registrant. The company, formerly known as Vapor Corp. and Miller Diversified Corp., is incorporated in Delaware and based in Hollywood, Florida.
Why It Matters
This filing indicates a significant corporate event, likely an acquisition or asset sale, which could impact the company's financial structure and future operations.
Risk Assessment
Risk Level: medium — Material definitive agreements and the creation of financial obligations can introduce significant financial and operational risks.
Key Players & Entities
- Healthier Choices Management Corp. (company) — Registrant
- July 18, 2024 (date) — Date of earliest event reported
- Vapor Corp. (company) — Former company name
- Miller Diversified Corp (company) — Former company name
- Delaware (jurisdiction) — State of incorporation
- Hollywood, Florida (location) — Business address
FAQ
What specific type of material definitive agreement was entered into by Healthier Choices Management Corp. on July 18, 2024?
The filing indicates the agreement is related to the completion of an acquisition or disposition of assets.
What is the primary consequence of this agreement for Healthier Choices Management Corp. as reported in the filing?
The agreement resulted in the creation of a direct financial obligation for the registrant.
What were the previous names of Healthier Choices Management Corp.?
The company was formerly known as Vapor Corp. and Miller Diversified Corp.
In which state is Healthier Choices Management Corp. incorporated?
Healthier Choices Management Corp. is incorporated in Delaware.
What is the business address of Healthier Choices Management Corp.?
The business address is 3800 North 28th Way, Hollywood, Florida 33020.
Filing Stats: 1,224 words · 5 min read · ~4 pages · Grade level 10.2 · Accepted 2024-07-24 17:23:51
Key Financial Figures
- $7.1 m — the Purchase Agreement is approximately $7.1 million, which includes an estimated $2,2
- $2,200,000 — .1 million, which includes an estimated $2,200,000 to be paid for inventory. The total amo
- $7,500,000 — Agreement") with a private lender for a $7,500,000 loan (the "Acquisition Loan"). A portio
- $1,125,000 — oan are required to be made as follows: $1,125,000 on first anniversary of the Loan Effect
- $1,875,000 — anniversary of the Loan Effective Date, $1,875,000 on the second anniversary of the Loan E
- $1,225,000 — te (the "Note") in the principal sum of $1,225,000 in favor of GreenAcres Markets of Oklah
- $0.5 million — ncreased by approximately an additional $0.5 million in connection with the final determinat
Filing Documents
- form8-k.htm (8-K) — 45KB
- ex2-1.htm (EX-2.1) — 434KB
- ex10-1.htm (EX-10.1) — 48KB
- ex10-2.htm (EX-10.2) — 447KB
- ex99-1.htm (EX-99.1) — 23KB
- ex99-1_001.jpg (GRAPHIC) — 6KB
- 0001493152-24-028968.txt ( ) — 1329KB
- hcmc-20240718.xsd (EX-101.SCH) — 3KB
- hcmc-20240718_lab.xml (EX-101.LAB) — 33KB
- hcmc-20240718_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HEALTHIER CHOICES MANAGEMENT CORP. Date: July 24, 2024 By: /s/ Jeffrey E. Holman Jeffrey E. Holman Chief Executive Officer