secwatch.observer — SEC 8-K summary
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Issuer:     22nd Century Group, Inc. (XXII)
CIK:        0001347858
Form:       8-K
Filed at:   2023-07-06T23:59:59+00:00
Accession:  0001104659-23-078278
Event type: other_material
Sentiment:  neutral
Materiality: 0.80
Item codes: 3.03, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

22nd Century Group announces 1-for-15 reverse stock split to regain Nasdaq compliance
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- Reverse stock split effective July 5, 2023, at ratio of 1-for-15, trading under symbol XXII with new CUSIP 90137F202.
- Authorized common shares reduced from 500M to 33,333,334; outstanding shares from ~237.9M to ~15.9M (subject to rounding).
- No fractional shares issued; fractional interests rounded up to nearest whole share; no stockholder approval required under Nevada law.
- Press release re-affirms full-year 2023 net sales outlook of $105M to $110M; split intended to meet $1.00 minimum bid price requirement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1347858/000110465923078278/0001104659-23-078278-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1347858/000110465923078278/tm2320653d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-078278

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