22nd Century Eliminates an Additional $2.3 Million of Debt [Yahoo! Finance]
22nd Century Group, Inc (XXII)
NASDAQ:AMEX Investor Relations:
xxiicentury.com
Company Research
Source: Yahoo! Finance
Mocksville, North Carolina--(Newsfile Corp. - May 13, 2024) - 22nd Century Group, Inc. (NASDAQ: XXII), a tobacco products company focused on nicotine harm reduction, today announced that it has entered into a binding letter of agreement to eliminate an additional $2.3 million in outstanding debt with JGB Capital. Under the terms of the agreement, the Company and JGB Capital will exchange an aggregate of $2.3M in principal, fees and expenses owed to JGB Capital for consideration of approximately 1.375 million shares of the Company's common stock and pre-funded warrants. Additionally, the Company will defer monthly amortization payments for an additional two months, resulting in no required further principal repayment until August 2024. Said Larry Firestone, Chairman and CEO: "This agreement with JGB is another significant step in restoring strength to our balance sheet as we work toward becoming debt free. This transaction also preserves our cash resources for commercial use as we
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News
- 22nd Century reduces debt by additional $1.5M via payment from GVB [Seeking Alpha]Seeking Alpha
- 22nd Century Reduces Debt by Additional $1.5 Million via Payment from GVB [Yahoo! Finance]Yahoo! Finance
- $53.8+ Billion Smoking Cessation & Nicotine De-Addiction Product Market Report, 2024-2030: Business Opportunities for Drug Therapy, E-Cigarettes, and Nicotine Inhalers [Yahoo! Finance]Yahoo! Finance
- 22nd Century Announces Resignation of John Miller as President of Tobacco [Yahoo! Finance]Yahoo! Finance
- 22nd Century Group, Inc. (NASDAQ: XXII) was upgraded by analysts at StockNews.com to a "sell" rating.MarketBeat
XXII
Earnings
- 5/15/24 - Beat
XXII
Sec Filings
- 6/25/24 - Form 8-K
- 6/4/24 - Form 8-K
- 5/31/24 - Form 4
- XXII's page on the SEC website