22nd Century Group eliminates $5.2M debt via equity and cash, improves balance sheet

22nd Century Group, Inc.

Settled $5.2M Omnia debt for $248.5K cash, 1.15M shares, 1.15M pre-funded warrants, and 460K warrants at $2.14 per share.
Also settled $1.5M of other indebtedness via 700,958 shares at $2.14 per share.
CEO states transaction preserves cash, reduces monthly interest expense, and targets cash positive by Q1 2025.
Omnia receives new warrants with a put provision allowing redemption at $2.675 per warrant after May 1, 2025.

item 1.01 item 1.02 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

22nd Century Group, Inc. entered into General Release and Settlement Agreement with Omnia Capital LP valued at approximately $5.2 million (effective 2024-04-29).

Action: entry
Agreement: settlement
Counterparty: Omnia Capital LP
Value: approximately $5.2 million
Effective: 2024-04-29

Exact text from the filing

On April 29, 2024, 22nd Century Group, Inc. (the “Company”) entered into a General Release and Settlement Agreement (the “Agreement”) with Omnia Capital LP (“Omnia”).

View on SEC.gov

246 material agreements filed in the last 30 days. Browse all material agreements →

22nd Century Group, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-054552

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.