Company: XXII
Filing Date: 2025-08-25
Form Type: 8-K
Source: 0001641172-25-025279
Chunk: 1

Company: 22nd Century Group, Inc.
Filing Date: 2025-08-25
Form: 8-K
Item: Item 1.01
Chunk 1
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 (the “ Placement Agent”)
and the Company’s estimated offering expenses, are expected to be approximately $10 million. The Company expects to use the proceeds
to repay it outstanding indebtedness with JGB and the balance for working capital.

The
shares of Series A Preferred Stock, Warrants and the shares of Common Stock underlying the shares of Series A Preferred Stock and Warrants
are being offered and sold pursuant to the Company’s Registration Statement on Form S-3 (Registration No. 333-270473) previously
filed with the Securities and Exchange Commission (the “ SEC”) and declared effective on March 31, 2023, the base prospectus
included therein and the related prospectus supplement to be filed with the SEC.

The
Company will pay the Placement Agent a cash fee of 6.0% of the gross proceeds from the Offering, an additional 6.0% cash fee of any cash
exercise of the Warrants and agreed to reimburse the Placement Agent for its expenses, including the reimbursement of legal fees up to
an aggregate of $25,000. The Company has also agreed to reimburse the legal fees of the lead Investor’s legal counsel, with $25,000
to be remitted up front and the remainder to be paid on or prior to Closing. In addition, the Company agreed to issue placement agent
warrants to purchase an aggregate of 567,640 shares of common stock (the “ Placement Agent Warrants”) with substantially
the same terms as the Warrants, except that the exercise price of the Placement Agent Warrants shall be 110% of the exercise price of
the Warrants.

The
foregoing summaries of the terms of the Securities Purchase Agreement, the Warrants and the Placement Agent Warrants are subject to,
and qualified in their entirety by, the forms of such documents attached hereto as Exhibits 10.1, 4.1, and 4.2, respectively, and incorporated
herein by reference. Each of the Securities Purchase Agreement and the Warrants contains representations and warranties that the respective
parties made to, and solely for the benefit of, the other parties thereto in the context of all of the terms and conditions of those
agreements and in the context of the specific relationship between the parties. The provisions of the Securities Purchase Agreement,
including the representations and warranties contained therein, are not for the benefit of any party other than the parties to such agreement
or as stated therein and are not intended as a document for