22nd Century Group Shares Gain on Debt Repayment, New Capital

Dow Jones

09/19

By Kelly Cloonan

Shares of 22nd Century Group rose after the company said it has repaid its outstanding debt and attained new capital to expand its tobacco leaf inventory.

The stock rose 10% to $1.94 on Thursday in after-hours trading. Shares are down 99% this year through market close.

The tobacco products company said Thursday it has repaid the remaining $3.9 million of its senior secured debt following the close of its Series A convertible preferred stock offering.

The debt repayment and completion of the offering resulted in an approximate $9.1 million increase in as adjusted pro forma net tangible book value, the company said.

It plans to deploy a portion of that capital to expand its low nicotine tobacco leaf inventory in the fourth quarter, it said.

"With a debt-free balance sheet, we see a significant opportunity to use our resources in a forward-looking manner focused on growth," Chief Executive Larry Firestone said.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

September 18, 2025 17:46 ET (21:46 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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Shares are down 99% this year through market close. \n</p>\n<p>\n  The tobacco products company said Thursday it has repaid the remaining $3.9 million of its senior secured debt following the close of its Series A convertible preferred stock offering. \n</p>\n<p>\n  The debt repayment and completion of the offering resulted in an approximate $9.1 million increase in as adjusted pro forma net tangible book value, the company said. \n</p>\n<p>\n  It plans to deploy a portion of that capital to expand its low nicotine tobacco leaf inventory in the fourth quarter, it said. \n</p>\n<p>\n  \"With a debt-free balance sheet, we see a significant opportunity to use our resources in a forward-looking manner focused on growth,\" Chief Executive Larry Firestone said. \n</p>\n<p>\n  Write to Kelly Cloonan at kelly.cloonan@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 18, 2025 17:46 ET (21:46 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XXII","symbol_name":"22nd Century","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2568939286","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2568939286","pubTimestamp":1758231960,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of 22nd Century Group rose after the company said it has repaid its outstanding debt and attained new capital to expand its tobacco leaf inventory.The stock rose 10% to $1.94 on Thursday in after-hours trading. 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Shares are down 99% this year through market close. \n\n\n  The tobacco products company said Thursday it has repaid the remaining $3.9 million of its senior secured debt following the close of its Series A convertible preferred stock offering. \n\n\n  The debt repayment and completion of the offering resulted in an approximate $9.1 million increase in as adjusted pro forma net tangible book value, the company said. \n\n\n  It plans to deploy a portion of that capital to expand its low nicotine tobacco leaf inventory in the fourth quarter, it said. \n\n\n  \"With a debt-free balance sheet, we see a significant opportunity to use our resources in a forward-looking manner focused on growth,\" Chief Executive Larry Firestone said. \n\n\n  Write to Kelly Cloonan at kelly.cloonan@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 18, 2025 17:46 ET (21:46 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}