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Stock Market & Financial Investment News

News Breaks
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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February 3, 2016
09:17 EDTXXII22nd Century's VLN cigarettes viewed as public health tool in New Zealand
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09:02 EDTXXII22nd announces $5.5M registered direct offering
22nd Century Group has entered into an agreement with one existing institutional investor to receive $5.5 million in gross proceeds in a registered direct offering through the sale of common stock and warrants consisting of 5,000,000 shares of its common stock and 66-month warrants to purchase 2,500,000 shares of common stock at an exercise price of $1.21 per share. If the warrants are exercised for cash in full, the Company would receive additional gross proceeds of approximately $3.0 million. The offering is expected to close on or about February 5, 2016, subject to customary closing conditions, including approval of a NYSE MKT listing application. The net proceeds of the financing will be used for general corporate purposes, including working capital. Chardan Capital Markets, LLC acted as the sole placement agent for this transaction.

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