---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-121721"
form_type: "8-K"
ticker: "XXII"
cik: "0001347858"
company_name: "22nd Century Group, Inc."
filed_at: "2023-11-29T23:59:59+00:00"
generated_at: "2026-06-07T20:14:21.377966+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# 22nd Century Group raises ~$2.8M via warrant inducement; warns may cease operations after Jan 31, 2024

## Summary
- Entered warrant inducement agreements for 13M shares at $0.215; gross proceeds ~$2.8M; new inducement warrants for 200% of shares exercised.
- Cash and equivalents $3.3M as of Nov 24; expects funds after offering to last only through Jan 31, 2024.
- Payables exceed cash; payments not being made as due; may need additional funding or cease operations.
- Appointed Lawrence Firestone as Chairman and CEO (effective when warrant proceeds exceed $2.5M); base salary $425,000.
- Dawson James served as placement agent with 7% cash fee on gross proceeds.

## SEC filing metadata
- accession: 0001104659-23-121721
- form_type: 8-K
- ticker: XXII
- cik: 0001347858
- company_name: 22nd Century Group, Inc.
- filed_at: 2023-11-29T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.02, 3.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1347858/000110465923121721/0001104659-23-121721-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1347858/000110465923121721/tm2331522d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-121721
- JSON: https://secwatch.observer/filing/0001104659-23-121721.json
- Plain text: https://secwatch.observer/filing/0001104659-23-121721.txt

## Key facts
- Executive change
  Lawrence D. Firestone was appointed as Chairman of the Board and Chief Executive Officer at 22nd Century Group, Inc..
  - Action: appointed
  - Role: Chairman of the Board and Chief Executive Officer
  source text: On November 28, 2023, the Board appointed Lawrence D. Firestone as Chairman of the Board of Directors (“ Board ”), expanding the Board to eight directors, and as the Company’s Chief Executive Officer
  evidence_url: https://www.sec.gov/Archives/edgar/data/1347858/000110465923121721/0001104659-23-121721-index.htm
- Executive change
  John Miller changed role as President of the Tobacco Business at 22nd Century Group, Inc..
  - Action: resume
  - Role: President of the Tobacco Business
  source text: at which time, Mr. John Miller, the Company’s interim Chief Executive Officer, will resume the position of President of the Tobacco Business.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1347858/000110465923121721/0001104659-23-121721-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.