secwatch.observer — SEC 8-K summary
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Issuer:     22nd Century Group, Inc. (XXII)
CIK:        0001347858
Form:       8-K
Filed at:   2023-07-07T23:59:59+00:00
Accession:  0001104659-23-078950
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

22nd Century raises $3.0M in registered direct offering; warrants issued at $3.80
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- Sold 778,634 shares and 1,557,268 warrants at $3.80/unit for $3.0M gross proceeds.
- Net proceeds ~$2.6M; use for VLN commercial expansion, working capital.
- Warrants exercisable six months after issuance at $3.80/share, expire Jan 2029 or after stockholder approval.
- Previously outstanding warrants (1.5M) automatically adjusted from $7.05 to $3.80 per share.
- Company to seek stockholder approval for warrant price adjustment provisions and increased authorized shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1347858/000110465923078950/0001104659-23-078950-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1347858/000110465923078950/tm2320711d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-078950

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