Company: XXII
Filing Date: 2025-08-25
Form Type: 8-K
Source: 0001641172-25-025279
Chunk: 3

Company: 22nd Century Group, Inc.
Filing Date: 2025-08-25
Form: 8-K
Item: Item 5.03
Chunk 3
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Item      Amendments                                                      

Prior
to the closing of the Offering, the Company will file a Certificate of Designation of Preferences, Rights and Limitations with the Secretary
of State of the State of Nevada designating 10,650 shares out of the authorized but unissued shares of its preferred stock as
Series A Preferred Stock with a stated value of $1,000 per share (the “ Series A Certificate of Designation”). The following
is a summary of the principal terms of the Series A Preferred Stock as set forth in the Series A Certificate of Designation:

Dividends

The
holders of Series A Preferred Stock will be entitled to dividends when and as declared by the board of directors of the Company (the “ Board”), from time to time, in its sole discretion, which
dividends will be paid by the Company out of funds legally available therefor, payable, subject to the conditions and other terms of the
Certificate of Designations, in cash, in securities of the Corporation or using assets as determined by the Board on the stated value
of such Preferred Stock.

Voting
Rights

The
shares of Series A Preferred Stock have no voting rights, except to the extent required by the applicable law. As long as any shares
of Series A Preferred Stock are outstanding, the Company may not, without the approval of a majority of the then outstanding shares of
Series A Preferred Stock (a) alter or change the powers, preferences or rights given to the Series A Preferred Stock, (b) alter or amend
the Certificate of Incorporation or the bylaws of the Company in such a manner so as to materially adversely affect any rights given
to the Series A Preferred Stock, (c) authorize or create any class of stock ranking as to dividends, redemption or distribution of assets
upon a Liquidation (as defined below) senior to, or otherwise pari passu with, the Series A Preferred Stock, (d) increase the number
of authorized shares of Series A Preferred Stock, or (e) enter into any agreement to do any of the foregoing.

Liquidation

Upon
any liquidation, dissolution or winding-up of the Company, whether voluntary or involuntary (a “ Liquidation”), the then holders
of the Series A Preferred Stock are entitled to receive out of the assets available for distribution to stockholders of the Company an
amount equal to either (i) 100% of the stated value or (ii) the amount the holder would
receive if the Series A Preferred Stock had been converted