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Stock Market & Financial Investment News

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April 1, 2014
08:13 EDTXXII22nd Century says eliminates $7.7M of warrant liability
22nd Century Group announced that it entered into warrant amendments yesterday with existing warrant holders to eliminate virtually all of the company’s “derivative warrant liability.” 22nd Century Group had previously issued certain warrants that contained anti-dilution provisions. As of December 31, 2013, the Company’s derivative warrant liability was approximately $3.8M. However, as a result of the 52% appreciation of 22nd Century Group’s share price in 1Q14, the company’s derivative warrant liability would have increased to approximately $7.7M by the end of 1Q14 if the company and certain warrant holders did not amend the warrants containing anti-dilution provisions.
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