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

Issuer:     22nd Century Group, Inc. (XXII)
CIK:        0001347858
Form:       8-K
Filed at:   2025-08-25T23:59:59+00:00
Accession:  0001641172-25-025279
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 5.03, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

22nd Century Group raises $10.65M in Series A Preferred and Warrants offering
-----------------------------------------------------------------------------

- $10.65M offering of Series A Convertible Preferred Stock (stated value $1,000/share) and 5-year warrants to buy common at $1.97/share.
- Initial conversion price $2.19/share, subject to anti-dilution adjustment with a floor price of $0.394 after stockholder approval.
- Net proceeds ~$10M used to repay JGB debt and general working capital.
- Offering expected to close on August 26, 2025, subject to customary closing conditions.
- Preferred stock has no voting rights but requires consent for major changes; redeemable at 110% after one year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1347858/000164117225025279/0001641172-25-025279-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1347858/000164117225025279/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-025279

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