Item 8.01. Other Events.
On May 13, 2020, Vector Group Ltd. (the "Company") entered into an underwriting
agreement (the "Underwriting Agreement") with Jefferies LLC, as the underwriter,
to issue and sell up to 5,750,000 shares of the Company's common stock, par
value $0.10 per share (the "Common Stock"), including the underwriter's option
to purchase 750,000 additional shares, at a purchase price of $10.60 per share
(the "Offering").
On May 18, 2020, the Company completed the Offering. The net cash proceeds of
the Offering were approximately $52 million, after deducting estimated fees and
expenses payable by the Company and before any exercise of the underwriter's
option. The Common Stock sold in the Offering has been registered under the
Securities Act of 1933, as amended (the "Securities Act"), pursuant to a
registration statement on Form S-3 (No. 333-231085) previously filed with the
Securities and Exchange Commission (the "Commission") under the Securities Act.
Copies of the Underwriting Agreement and the opinion of the Company's counsel as
to the validity of the Common Stock are filed as Exhibits 1.1 and 5.1,
respectively, to this Current Report on Form 8-K and are incorporated herein by
reference. The Company is filing this Current Report Item 8.01 so as to file
with the Commission certain items that are to be incorporated by reference into
its Registration Statement.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description of Exhibit
1.1 Underwriting Agreement, dated as of May 13, 2020, by and between
Vector Group Ltd. and Jefferies LLC.
5.1 Opinion of Sullivan & Cromwell LLP
23.1 Consent of Sullivan & Cromwell LLP (included in Exhibit 5.1)
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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