VPR Brands Amends Class A Preferred Unit Terms, Eliminates Dividends

VPR Brands, LP. executed the Third Amendment to its Limited Partnership Agreement, significantly modifying the terms of its Class A preferred units. The changes include a substantial increase in authorized units from 1,000,000 to 250,000,000 and a decrease in stated value from $2.00 to $1.00 per unit. Key rights such as mandatory annual dividends and preferential liquidation rights were eliminated, with preferred units now ranking pari passu with common units on liquidation. Additionally, the conversion rights for Class A preferred units were revised.