Company: XXII
Filing Date: 2025-06-06
Form Type: PRER14A
Source: 0001641172-25-013953
Chunk: 59

Company: 22nd Century Group, Inc.
Filing Date: 2025-06-06
Form: PRER14A
Chunk 59
---
,682 |
| 1-for-100(1)   |     |                                             | 250,000,000 |     |                                                             |   115,076 |     |                                                                                       | 240,912,519 |

| (1) | All                                                                                           
 share numbers are rounded up to the nearest whole share but otherwise do not reflect the      
 potential effect of rounding up for fractional shares that may result from the Reverse Split, 
 which is subject to the Board’s discretion to instead pay cash in lieu of any fractional      
 shares.                                                                                       |
| (2) | The                                                                                           
 Reverse Split may cause a reduction in the exercise price, and a corresponding increase in    
 the number of shares issuable, with respect to warrants to purchase 6,889,495 of our shares   
 of common stock. See “Potential Warrant Adjustment” below.                                    |

As reflected in the table above, the number of authorized shares of our common stock will not be reduced by the Reverse Split. Accordingly, the Reverse Split will have the effect of creating additional unissued and unreserved shares of our common stock. We have no current arrangements or understandings providing for the issuance of any of the additional authorized and unreserved shares of our common stock that would be available as a result of the proposed Reverse Split. However, these additional shares may be used by us for various purposes in the future without further stockholder approval (subject to applicable Nasdaq listing rules), including, among other things: (i) raising capital necessary to fund our future operations, (ii) providing equity incentives to our employees, officers, directors and consultants, (iii) entering into collaborations and other strategic relationships and (iv) expanding our business through the acquisition of other businesses or products.

| 39 |

Effect of the Reverse Stock Split on the Company’s Equity Incentive Plan, Warrants and Convertible or Exchangeable Securities

Based upon the split ratio, proportionate adjustments are generally required to be made to the per share exercise price and the number of shares issuable upon the exercise or conversion of all outstanding options, warrants, convertible or exchangeable securities entitling the holders to purchase, exchange for, or convert into, shares of common stock. This would result in approximately the same aggregate price being required to be paid under such options, warrants, convertible or exchangeable securities upon exercise, and approximately the same value of shares of common stock being delivered upon such exercise, exchange or conversion, immediately following the Reverse Split as was the case immediately preceding such split. The number of