secwatch.observer — SEC 8-K summary
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Issuer:     22nd Century Group, Inc. (XXII)
CIK:        0001347858
Form:       8-K
Filed at:   2024-09-09T23:59:59+00:00
Accession:  0001104659-24-098008
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

22nd Century agrees $1.22M IP payment with NCSU, payable in cash or stock
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- Total payment of $1,220,438 to NCSU covers IP licensing, royalties, and sponsored research through 2025.
- Consideration may be paid in cash or common stock (up to 19.99% of outstanding shares) in three tranches.
- First installment due by September 15, 2024; final by January 15, 2025.
- Company extended field trial activity into 2025 under the agreement.
- Equity issuance price based on 5-day VWAP; shares subject to registration for resale.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1347858/000110465924098008/0001104659-24-098008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1347858/000110465924098008/tm2420488d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-098008

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