secwatch.observer — SEC 8-K summary
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Issuer:     22nd Century Group, Inc. (XXII)
CIK:        0001347858
Form:       8-K
Filed at:   2026-03-20T23:59:59+00:00
Accession:  0001493152-26-011967
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 5.03, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

22nd Century Group raises up to $20M via Series B Preferred offering; uses proceeds to redeem Series A
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- Initial close of $16.0M of Series B Preferred at $1,000 stated value; additional $4M possible within one year.
- Series B convertible at $3.57 fixed or 15% discount to VWAP; 100% warrant coverage at $3.57, 5-year term.
- Net proceeds from initial close ~$5.7M after fees and repurchase of $9.65M Series A Preferred.
- Company prohibited from variable rate transactions while Series B outstanding; limited ATM use allowed.
- No voting rights for Series B; perpetual term; redemption at 110% of stated value after 6 months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1347858/000149315226011967/0001493152-26-011967-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1347858/000149315226011967/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-011967

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