22nd Century Group Announces Exercise of Existing Warrants and Fundraising

Business by 2FIRSTS.ai

Dec.05.2023

22nd Century Group Announces Exercise of Existing Warrants and Fundraising

BioTech company 22nd Century Group, Inc. announced the exercise of existing options by shareholders, generating approximately $3.2 million in revenue.

According to a report published by Menafn on December 4th, the biotechnology company 22nd Century Group, Inc. (NASDAQ: XXII), based in Buffalo, New York, announced that some holders plan to exercise their existing stock options as part of the previously disclosed incentive stock option program.

During this exercise period, several existing stock option holders of the company purchased a total of 14,767,386 common shares at a reduced exercise price of $0.215 per share.

Currently, the company has received a total gross income of approximately 3.2 million dollars.

The newly appointed Chairman and CEO, Larry Firestone, has announced that this funding will serve as crucial operational capital to support the company's tobacco business and drive its restructuring efforts to enhance performance in the tobacco industry and reduce operational costs.

References:

[1] 22Nd Century Secures $3.2 Million To Date In Warrant Exchange Transaction

Also Read:

[1] 22nd Century Group Announces Exercise of Existing Warrants and Fundraising

[2] 22nd Century Group Inc's Stock Drops 12.26%, but Shows Recent Recovery

#North America #United States #Traditional tobacco #Personnel announcement #Charity

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn

Notice

1. This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2. The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3. This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4. Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

Copyright

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

AI Assistance Disclaimer

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

Australia TGA Warns Delivery Platforms: Don’t Promote or Supply Vapes Illegally

The Therapeutic Goods Administration (TGA) warned online delivery platforms not to breach Australian vape laws and said it worked with two major companies to remove non-compliant material. Under the Therapeutic Goods Act 1989, advertising vapes to the public is banned and sales are pharmacy-only; tobacconists and convenience stores cannot supply vapes. TGA will continue enforcement, with severe penalties for breaches.

Oct.30 by 2FIRSTS.ai

Spain to Tighten E-Cigarette Regulation: Public-Place Ban, Advertising Limits, Flavour Controls

Spain is advancing a 2025 Anti-Tobacco Law to align e-cigs with tobacco, tighten public-use/advertising/flavour rules, study phasing out disposables; cannabinoid, nicotine-free vapes are rising.

Oct.21 by 2FIRSTS.ai

Costa Rica Ruling Party Lawmaker Proposes Vape Ban as Experts Warn of Black Market Risks

A lawmaker from Costa Rica’s ruling party has introduced a bill to completely ban e-cigarettes and related products, covering their import, sale, use, and manufacturing, citing rising youth use and associated health risks. The proposal would repeal the current regulatory law and has raised concerns that a full ban, combined with weak enforcement, could fuel a black market.

Dec.03 by 2FIRSTS.ai

BAT plans to sell its stake in ITC Hotels, using proceeds to reduce debt

British American Tobacco (BAT) plans to sell all or part of its stake in ITC Hotels via an accelerated bookbuild, with the sale size expected to be up to 15.3% of the company’s shares. The company says the proceeds will be used to reduce debt and bring its leverage back within the target range.