8-K
filed July 24, 2023, 7:59 PM ET
ticker XXII
CIK 0001347858
leadership
confidence high
sentiment neutral
materiality 0.75
22nd Century Group CEO resigns, interim CEO appointed; $11.7M financing closed
22nd Century Group, Inc.
- CEO James Mish resigns effective Aug 1, 2023, remains on board; John Miller appointed interim CEO.
- Raised $11.7M gross via registered direct offering: 4.37M shares at $2.67 and warrants for 8.75M shares at $2.42.
- Announced $15M annualized cost reduction initiative to streamline operations across business.
- Appointed Andy Arno as independent director; 35+ years capital markets experience.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
John J. Miller was appointed as interim-CEO at 22nd Century Group, Inc..
- Action
- appointed
- Role
- interim-CEO
Exact text from the filing
the Board appointed John J. Miller, who has served as President of the Tobacco Business since November 2022, as interim-CEO of the Company effective immediately.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
James A. Mish resigned as Chief Executive Officer at 22nd Century Group, Inc..
- Action
- resigned
- Role
- Chief Executive Officer
Exact text from the filing
James A. Mish, the Company’s Chief Executive Officer, provided notice that he was resigning for personal reasons from such position effective August 1, 2023.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Andrew Arno was appointed as Director at 22nd Century Group, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
the Board expanded the Board to seven members and appointed Andrew Arno to be a director on the Board, effective immediately.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
22nd Century Group, Inc. entered into Securities Purchase Agreement with certain investors valued at approximately $11.7 million (effective 2023-07-19).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- certain investors
- Value
- approximately $11.7 million
- Effective
- 2023-07-19
Exact text from the filing
On July 19, 2023, 22nd Century Group, Inc. (the “Company”) and certain investors (the “Investors”) entered into a securities purchase agreement (the “Securities Purchase Agreement”) relating to the issuance and sale of shares of common stock and warrants pursuant to a registered direct offering (the “Offering”).
View on SEC.gov
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