<a href="https://laohu8.com/S/XXII">22nd Century</a> Group Inc. Announces New Securities Purchase Agreement for $10.65 Million Offering
On August 22, 2025, 22nd Century Group Inc. announced a new securities purchase agreement with investors for the sale of $10.65 million in Series A Convertible Preferred Stock. This stock is initially convertible into 4,863,013 shares of common stock at a conversion price of $2.19 per share, subject to adjustments. The agreement also includes warrants for purchasing common stock at $1.97 per share, expiring five years from issuance. The offering is set to close on August 26, 2025, pending customary closing conditions. The agreement restricts the company from issuing new common stock or equivalents until 45 days post-closing and grants certain investors participation rights in future equity offerings for nine months after the Series A Preferred Stock is fully redeemed.
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