Company: XXII
Filing Date: 2025-12-19
Form Type: PRE 14A
Source: 0001493152-25-028573
Chunk: 21

Company: 22nd Century Group, Inc.
Filing Date: 2025-12-19
Form: PRE 14A
Chunk 21
---
 in the case of an at the market offering by the Corporation, an adjustment will be made only if the actual sales under such offering are lower than the Base Conversion Price then in effect. The Corporation shall notify the Holders in writing, no later than the Trading Day following the issuance of any Common Stock or Common Stock Equivalents subject to this Section 7(b), indicating therein the applicable issuance price, or applicable reset price, exchange price, conversion price and other pricing terms (such notice, the “ Dilutive Issuance Notice”). For purposes of clarification, whether or not the Corporation provides a Dilutive Issuance Notice pursuant to this Section 7(b), upon the occurrence of any Dilutive Issuance, the Holders are entitled to receive a number of Conversion Shares based upon the Base Conversion Price on or after the date of such Dilutive Issuance, regardless of whether a Holder accurately refers to the Base Conversion Price in the Notice of Conversion.”

| PROXY STATEMENT | 15 |

Section 6(g) of the Certificate of Designations provides as follows:

| “(g) | Right                    
 of Alternate Conversion. |

| (i)  | General.                                                                                                                               
 Subject to Section 6(d), at any time after the Stockholder Approval Date, the Holder may, at the Holder’s option, convert (each,       
 an “Alternate Conversion”, and the date of such Alternate Conversion, each, an “Alternate Conversion Date”)                            
 all, or any part of, the Conversion Amount (such portion of the Conversion Amount subject to such Alternate Conversion, each, an       
 “Alternate Conversion Amount”) into shares of Common Stock at a conversion price equal to the higher of (i) 85% of the                 
 lowest daily VWAP in the twenty (20) Trading Days prior to the applicable Alternate Conversion Date, and (ii) the Floor Price (the     
 “Alternate Conversion Price”).                                                                                                         |
| (ii) | Mechanics                                                                                                                              
 of Alternate Conversion. On any Alternate Conversion Date, the Holder may voluntarily convert any Alternate Conversion Amount pursuant 
 to Section 6(g)(i) (with “Alternate Conversion Price” replacing “Conversion Price” for all purposes hereunder                          
 with respect to such Alternate Conversion) by designating in the Conversion Notice delivered pursuant to this Section 6(g)(ii) that    
 the Holder is electing to use the Alternate Conversion Price for such conversion.”                                                     |

Section 7(h) of the Certificate of Designations provides as follows:

| “(h) | Voluntary