Healthier Choices Mgmt Corp (HCMC)

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- Record date established as May 18 , 2021
- To be a shareholder of record, investors are advised to own HCMC stock by 4:00 PM ET , Friday, May 14, 2021 to account for T(trade)+2 settlement timing.
Hollywood, FL , May 05, 2021 (GLOBE NEWSWIRE) -- Healthier Choices Management Corp. (OTC Pink: HCMC) today provided an informational update to stockholders regarding its proposed rights offering and the expected key dates and terms relative to the offering. Stockholders of record on May 18, 2021 (the "Record Date") will be entitled to participate in the rights offering. Prospective stockholders who wish to participate in the rights offering are advised to ensure that they complete their open market purchases of HCMC's common stock by May 14, 2021 to be considered a stockholder of record on the Record Date.
Under the proposed rights offering, HCMC will distribute one non-transferable subscription right for each four shares of common stock held by a Stockholder on the record date of May 18, 2021 . Each subscription right will entitle the holder to purchase one share of HCMC common stock at a subscription price equal to 75% of the volume-weighted average of the trading prices (VWAP) of our common stock on the OTC Pink Sheets for the five consecutive trading days ending on the expiration date of this rights offering (which equates to a 25% discount to the VWAP calculation).
The subscription rights will be non-transferable and may only be exercised during the anticipated subscription period of May 19, 2021 through 5:00 PM ET on June 3, 2021 , unless extended by HCMC.
The expected calendar for the rights offering is as follows:
Friday, May 14, 2021: Ownership Day — in order to be considered a stockholder of record on May 18, 2021 , shares should be acquired by May 14, 2021 .
Tuesday, May 18, 2021: Record Date
Wednesday, May 19 , 2021: Distribution Date; Subscription Period Begins
Thursday, June 3 , 2021: Subscription Period Ends 5:00 PM ET (unless extended at HCMC's sole discretion)
Holders who exercise their subscription rights in full will be entitled, if available, to subscribe for additional units that are not purchased by other stockholders, on a pro rata basis and subject to ownership limitations. This is referred to as the “over-subscription right”.
A registration statement (Registration No. 333-255356) relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The rights offering, which is expected to commence following the effectiveness of the registration statement, is being made only by means of a written prospectus. A preliminary prospectus relating to and describing the proposed terms of the rights offering has been filed with the SEC as a part of the registration statement and is available on the SEC's website at https://www.sec.gov/Archives/edgar/data/844856/000084485621000036/0000844856-21-000036-index.htm.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or other 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 Healthier Choices Management Corp.