secwatch.observer — SEC 8-K summary
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Issuer:     22nd Century Group, Inc. (XXII)
CIK:        0001347858
Form:       8-K
Filed at:   2024-10-24T23:59:59+00:00
Accession:  0001104659-24-110997
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

22nd Century Group raises ~$3M via PIPE of prefunded warrants and warrants
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- Sold 28,354,914 prefunded warrants at $0.10719 each and 42,532,372 common warrants exercisable at $1.00, expiring 5 years after stockholder approval.
- Gross proceeds ~$3M; net proceeds after fees (~$100K cash + $30K expense reimb.) expected ~$2.9M.
- Shares issuable upon warrant exercise require stockholder approval by May 30, 2025; company also issued placement agent warrants for 2,268,393 shares at $1.25.
- Closing expected Oct 24, 2024; investors granted participation rights in future equity offerings for 9 months post-closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1347858/000110465924110997/0001104659-24-110997-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1347858/000110465924110997/tm2426752d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-110997

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