Company: XXII
Filing Date: 2025-08-25
Form Type: 8-K
Source: 0001641172-25-025279
Chunk: 5

Company: 22nd Century Group, Inc.
Filing Date: 2025-08-25
Form: 8-K
Item: Item 5.03
Chunk 5
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 at least 30 calendar days prior equal to 110% of the Stated Value per share of Series A Preferred Stock being redeemed.

Negative
Covenants

As
long as any Series A Preferred Stock is outstanding, unless the holders of more than 50% of the then outstanding shares of Series A Preferred
Stock shall have otherwise given prior written consent, the Company cannot, subject to certain exceptions enter into, create, incur,
assume, guarantee or suffer to exist any indebtedness (as defined in the Certificate of Designations) exceeding $100,000.

Trading
Market

There
is no established trading market for any of the Series A Preferred Stock, and we do not expect a market to develop. We do not intend
to apply for a listing for any of the Series A Preferred Stock on any securities exchange or other nationally recognized trading system.
Without an active trading market, the liquidity of the Series A Preferred Stock will be limited.

The
Series A Certificate of Designation is attached as Exhibit 3.1 hereto. The summary above is not intended to be complete and is
qualified in its entirety by reference to such exhibit which is incorporated herein by reference.