22nd Century Group, Inc. (XXII): Nasdaq/NYSE listing notice — XXII receives Nasdaq deficiency notice for shareholders' equity below $2.5M requirement

22nd Century Group, Inc.

Received Nasdaq deficiency letter on April 4, 2024 for failing Listing Rule 5550(b)(1).
Shareholders' equity as of Dec 31, 2023 was below the $2.5M minimum requirement.
Company has 45 days to submit a compliance plan; if accepted, Nasdaq may grant up to 180 days to regain compliance.
No immediate effect on listing; company intends to submit plan but no assurance of acceptance.

item 3.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.98

22nd Century Group, Inc. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: deficiency notice
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

April 4, 2024, 22nd Century Group, Inc. (the “Company”) received a deficiency letter from the Nasdaq Listing Qualifications Department indicating that the Company was not in compliance with Nasdaq's Listing Rule 5550(b)(1) because the Company's shareholders' equity for the year ended December 31, 2023 (the "Year"), as reported in the Company's Form 10-K for the Year, was below the minimum shareholders' equity requirement of $2,500,000 (the "Shareholders' Equity Requirement"). The Notice had no immediate effect on the Company's continued listing on Nasdaq, subject to the Company's compliance wi

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22nd Century Group, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-044103

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