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By The Online Investor Staff, updated Thu., Apr. 18, 11:02 PM
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Private Placements| This Slide: #16 of 25 |
Slide #16. 22nd Century Group, Inc. — Private Placement
Company:
22nd Century Group, Inc. (NASDAQ:XXII)
$Amount:
$2,500,000 (USD)
Closed on:
1/14/2013
Private Placement Details:
22nd Century Group, Inc. (OTCQB/OTCBB:XXII) announced today that it closed a private placement on Friday, January 11, 2013 with an institutional investor. 22nd Century sold 2500 shares of its Series A convertible preferred stock and a 5-year warrant for an aggregate purchase price of $2.5 million. The shares of Series A preferred stock are convertible into a total of 4,166,667 shares of common stock at a conversion price of $0.60 per share, subject to adjustments. The 5-year warrant grants the investor the right to purchase up to an additional 4,166,667 shares of common stock at an exercise price of approximately $0.70 per share.
22nd Century Group is a agricultural biotechnology and intellectual property company focused on tobacco harm reduction, reduced nicotine tobacco and improving health and wellness through plant science. In tobacco, hemp/cannabis, and hop plants, Co. uses plant breeding technologies, including genetic engineering, gene-editing, and molecular breeding to deliver solutions for the life science and consumer products industries by creating new, proprietary plants with optimized alkaloid and flavonoid profiles as well as improved yields and agronomic traits. Co. has developed proprietary bright and burley Very Low Nicotine Content tobaccos. Co. has developed its SPECTRUM® research cigarettes. 22nd Century Group is a agricultural biotechnology and intellectual property company focused on tobacco harm reduction, reduced nicotine tobacco and improving health and wellness through plant science. In tobacco, hemp/cannabis, and hop plants, Co. uses plant breeding technologies, including genetic engineering, gene-editing, and molecular breeding to deliver solutions for the life science and consumer products industries by creating new, proprietary plants with optimized alkaloid and flavonoid profiles as well as improved yields and agronomic traits. Co. has developed proprietary bright and burley Very Low Nicotine Content tobaccos. Co. has developed its SPECTRUM® research cigarettes.
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