Company: XXII
Filing Date: 2025-12-17
Form Type: 8-K
Source: 0001493152-25-028191
Chunk: 0

Company: 22nd Century Group, Inc.
Filing Date: 2025-12-17
Form: 8-K
Item: Item 1.01
Chunk 0
---
Item 1.01

Entry into a Material Definitive Agreement.

Preferred
Stock Amendment

On
December 17, 2205, 22nd Century Group, Inc. (the “ Company Amendment
Agreement Holders Preferred
Stock Purchase
Agreements Certificate
of Designation Warrants

Pursuant to the Amendment Agreement,
the Company and the Holders agreed to (i) change the Stockholder Approval Deadline (as defined
in the Purchase Agreement) to February 23, 2026, (ii) seek Stockholder Approval to effect a reverse stock split for the purpose of complying
with the Nasdaq Listing Rules, (iii) seek Stockholder Approval to approve an offering of the
Company’s securities including preferred stock and warrants on substantially the same terms as the Preferred Stock and Warrants,
up to $20 million, (iv) amend the conditions by which the Company may
sell shares under its ATM Facility (as defined in the Purchase Agreement), including that prior to
the Stockholder Approval Deadline, the Company may only sell shares at a price per share equal to at least $2.00, and with no
restrictions after obtaining Stockholder Approval (as defined in the Purchase Agreement);
provided that, if such Stockholder Approval is not obtained by the Stockholder Approval Deadline, the Company may not sell shares under
the ATM Facility until such time as the Stockholder Approval is obtained, (v) subject to Stockholder Approval, the
Company may reduce the Conversion Price (as defined in the Certificate of Designation)
currently in effect, upon approval and at the discretion of the Board, and (vi) subject to Stockholder Approval, provide an alternative
conversion feature to the Certificate of Designation whereby the Preferred Stock can be converted at a conversion price equal to 85%
of the lowest VWAP in any of the twenty trading days preceding the conversion.

Warrant
Amendment

Pursuant
to the Amendment Agreement, the Company also agreed to, subject to Stockholder Approval, provide certain ant-dilution adjustments
to the exercise price of the Warrants to provide protection against future dilutive issuances.

The
foregoing descriptions of the Amendment Agreement and Certificate of Amendment to the Certificate of Designation are not complete and
are qualified in its entirety by reference to the full text of the forms of such agreements, a copies of which are filed as Exhibits
3.1 and 10.1 to this report and are incorporated by reference herein.

Item 3.03