secwatch.observer — SEC 8-K summary
======================================

Issuer:     22nd Century Group, Inc. (XXII)
CIK:        0001347858
Form:       8-K
Filed at:   2024-08-28T23:59:59+00:00
Accession:  0001104659-24-093785
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

22nd Century raises $1.68M via Reg A offering, amends JGB debenture terms
-------------------------------------------------------------------------

- Issued 2.95M shares at $0.57/share for $1.68M gross proceeds under Reg A; total sold 3.62M shares.
- Private placement of 2.596M warrants at $0.00001 each, exercisable at $1.00/share for 5 years.
- JGB amendment: suspends 20% equity payout through Dec 2024; limits monthly redemption to 50% through July 2025.
- Amendment fee of $746K added to debenture principal under letter agreement with JGB.
- Potential to raise up to ~$3.9M additional on same terms; no current agreements for further sales.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1347858/000110465924093785/0001104659-24-093785-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1347858/000110465924093785/tm2422784d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-093785

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer