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

Issuer:     22nd Century Group, Inc. (XXII)
CIK:        0001347858
Form:       8-K
Filed at:   2024-10-10T23:59:59+00:00
Accession:  0001104659-24-107522
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

22nd Century Group enters letter agreement to reset conversion price of JGB debentures subject to shareholder approval
--------------------------------------------------------------------------------

- One-time reset of Conversion Price to 5-day average VWAP, not above current $0.7458, subject to Holder written approval.
- Company must obtain shareholder approval for unlimited share issuance at discount to Nasdaq Minimum Price by Dec 31, 2024.
- If approval not obtained by Dec 31, Company must seek it at every subsequent shareholder meeting, at least every six months.
- All conversion shares to be issued free of restrictive legends; Company to provide legal opinions to transfer agent.
- Letter agreement amends March 2023 SPA and debentures; prior August 2024 letter agreement remains in effect.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1347858/000110465924107522/0001104659-24-107522-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1347858/000110465924107522/tm2425915d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-107522

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