secwatch.observer — SEC 8-K summary
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Issuer:     22nd Century Group, Inc. (XXII)
CIK:        0001347858
Form:       8-K
Filed at:   2024-09-30T23:59:59+00:00
Accession:  0001104659-24-103911
Event type: other_material
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

22nd Century Group raises ~$1.2M via registered direct offering and warrant inducement
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- Sold 5,153,508 shares and warrants for 10,307,016 shares at $0.228 per unit; gross proceeds ~$1.2M.
- Net proceeds ~$1.1M; closing expected October 1, 2024.
- Warrant inducement: holders of existing warrants (5,079,244 shares at $0.228) offered new warrants at 200% coverage.
- Company to seek stockholder approval for shares issuable upon exercise of new warrants.
- Placement agent receives 6% cash fee plus 6% on warrant exercises and expense reimbursement up to $50,000.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1347858/000110465924103911/0001104659-24-103911-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1347858/000110465924103911/tm2425195d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-103911

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