22nd Century Group, Inc. 8-K Filing

Ticker: XXII · Form: 8-K · Filed: Sep 9, 2024 · CIK: 1347858

22nd Century Group, Inc. 8-K Filing Summary
FieldDetail
Company22nd Century Group, Inc. (XXII)
Form Type8-K
Filed DateSep 9, 2024
Pages3
Reading Time3 min
Key Dollar Amounts$0.00001, $1,220,438.34
Sentimentneutral

Sentiment: neutral

FAQ

What type of filing is this?

This is a 8-K filing submitted by 22nd Century Group, Inc. (ticker: XXII) to the SEC on Sep 9, 2024.

What are the key financial figures in this filing?

Key dollar amounts include: $0.00001 (nge on which registered Common Stock, $0.00001 par value XXII NASDAQ Capital Market); $1,220,438.34 (gh the end of 2025. The total amount of $1,220,438.34 is payable in cash or through the issua).

How long is this filing?

22nd Century Group, Inc.'s 8-K filing is 3 pages with approximately 751 words. Estimated reading time is 3 minutes.

Where can I view the full 8-K filing?

The complete filing is available on SEC EDGAR. You can also read the AI-decoded analysis with risk assessment and key highlights on ReadTheFiling.

Filing Stats: 751 words · 3 min read · ~3 pages · Grade level 10.7 · Accepted 2024-09-09 09:14:57

Key Financial Figures

  • $0.00001 — nge on which registered Common Stock, $0.00001 par value XXII NASDAQ Capital Market
  • $1,220,438.34 — gh the end of 2025. The total amount of $1,220,438.34 is payable in cash or through the issua

Filing Documents

01

Item 1.01 Entry into a Material Definitive Agreement. NCSU Payment Agreement On September 5, 2024, (the "Effective Date") the Company entered into a Payment Agreement (the "Agreement") with North Carolina State University ("NCSU") to satisfy outstanding payments due under existing License Agreements with NCSU and to prepay license fees and minimum royalty payments related to sponsored research for the Company's intellectual property program through the end of 2025. The total amount of $1,220,438.34 is payable in cash or through the issuance of Company common stock (the "Shares"), at the Company's election. The payments shall be issued in three separate installments commencing on or before September 15, 2024 and ending on or before January 15, 2025. The Shares, if issued at the Company's election, will be issued in a private placement and were exempt from registration under the Securities Act of 1933, as amended, in reliance on Section 4(a)(2) thereof as a transaction not involving a public offering and/or Rule 506 of Regulation D promulgated thereunder. Shares issued pursuant the Agreement shall be issued at an effective price per share equal to the 5-day closing price of the Company's common stock ending the day prior to the applicable issuance date. The total amount of Shares issued under the Agreement shall not exceed 19.99% of the Company's total outstanding shares on the Effective Date. The Company has agreed to file a registration statement on Form S-3 (or other appropriate form if the Company is not then S-3 eligible) providing for the resale by NCSU of the Shares issued within three business days of each Share issuance installment under the Agreement. A copy of the Agreement is attached hereto as Exhibit 10.1 and incorporated herein by reference.

02

Item 3.02. Unregistered Sales of Equity Securities. The information set forth under Item 1.01 with respect to the shares of common stock issuable by the Company to NCSU under the Payment Agreement is incorporated herein by reference.

01

Item 7.01. Regulation FD Disclosure. NCSU Payment Agreement On September 9, 2024, the Company issued a press release regarding the Payment Agreement. A copy of the press release is attached hereto as Exhibit 99.1. Investor Presentation On September 9, 2024, the Company issued an updated investor presentation. A copy of the investor presentation is attached hereto as Exhibit 99.2.

Financial Statements and Exhibits

Financial Statements and Exhibits. Exhibit 10.1 Payment Agreement with NCSU Exhibit 99.1 Press Release dated September 9, 2024 Exhibit 99.2 Investor Presentation 104 The cover page of this Current Report on Form 8-K, formatted in Inline XBRL.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. 22nd Century Group, Inc. /s/ Lawrence Firestone Date: September 9, 2024 Lawrence Firestone Chief Executive Officer

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