Company: XXII
Filing Date: 2025-04-30
Form Type: 8-K
Source: 0001641172-25-006804
Chunk: 1

Company: 22nd Century Group, Inc.
Filing Date: 2025-04-30
Form: 8-K
Item: Item 1.01
Chunk 1
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 exercise price of such Inducement Warrants.
The Company also agreed to hold a meeting of stockholders to approve the issuance of the shares of common stock underlying the Inducement
Warrants pursuant to applicable Nasdaq rules.

The shares of common stock upon
exercise of the Existing Warrants and the Inducement Warrants will be issued in reliance upon an exemption from registration pursuant
to Section 4(a)(2) under the Securities Act of 1933, as amended (the “ Securities Act”). The Company has agreed to,
as soon as reasonably practicable, but in any event no later than May 15, 2025, file a registration statement covering the resale of the
shares of the Company’s common stock issued or issuable under the Existing Warrants and upon the exercise of the Inducement Warrants.
The Company shall use commercially reasonable efforts to cause such registration statement to become effective within 45 days (the date
such registration statement is declared effective, the “ Effectiveness Date”).

Subject to limited exceptions,
a holder of Inducement Warrants will not have the right to exercise any portion of its Inducement Warrants if the holder (together with
such holder’s affiliates, and any persons acting as a group together with such holder or any of such holder’s affiliates)
would beneficially own a number of shares of common stock in excess of 4.99% (or, upon election by a holder prior to the issuance of any
Inducement Warrants, 9.99%) of the shares of common stock then outstanding. At the holder’s option, upon notice to the Company,
the holder may increase or decrease this beneficial ownership limitation not to exceed 9.99% of the shares of common stock then outstanding,
with any such increase becoming effective upon 61 days’ prior notice to the Company.

The Company agreed
that, subject to certain exceptions, until 75 days after the later of the date that all of the shares issuable upon exercise of the
Existing Warrants, the Inducement Warrants, and the PIPE Warrants (as defined below) (the “ Total Warrants Effectiveness Date”),
and the date of Stockholder Approval Date, neither the Company nor any of its subsidiaries will issue, enter into any agreement to
issue or announce the issuance or proposed issuance of any shares of common stock or common stock equivalents. The Company also agreed
that, subject to certain exceptions, for a period of six months after the later of the Total W