22nd Century Group enters $50M at-the-market offering agreement with Cowen

22nd Century Group, Inc.

Up to $50M of common stock may be sold through Cowen and Company in ATM offerings.
Proceeds intended for general corporate purposes, including VLN cigarette launch, acquisitions, R&D, and working capital.
Sales agent receives 3% commission on gross proceeds; Company reimburses up to $75,000 in legal fees.
Registration statement filed March 10, 2023, not yet effective; sales cannot occur until effectiveness.
Company not obligated to sell any shares and may suspend offers at any time.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

22nd Century Group, Inc. entered into Sales Agreement with Cowen and Company, LLC valued at up to $50,000,000 (effective 2023-03-09).

Action: entry
Agreement: atm program
Counterparty: Cowen and Company, LLC
Value: up to $50,000,000
Effective: 2023-03-09

Exact text from the filing

On March 9, 2023 22nd Century Group, Inc. (the “Company”) entered into a Sales Agreement (the “Sales Agreement”) with Cowen and Company, LLC (the “Sales Agent”) under which the Company may issue and sell in a registered offering shares of our common stock having an aggregate offering price of up to $50,000,000 from time to time

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244 material agreements filed in the last 30 days. Browse all material agreements →

22nd Century Group, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-031267

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