Company: XXII
Filing Date: 2025-12-19
Form Type: PRE 14A
Source: 0001493152-25-028573
Chunk: 19

Company: 22nd Century Group, Inc.
Filing Date: 2025-12-19
Form: PRE 14A
Chunk 19
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 payment of the fair value of such stockholder’s shares in the event of certain corporate actions, including reverse stock splits of a class or series held without correspondingly decreasing the number of authorized shares of the same class or series if money will be paid or scrip will be issued to stockholders who in the aggregate hold one percent or more of the outstanding shares of the affected class or series, and would otherwise be entitled to receive a fraction of a share in the exchange of their outstanding shares.

However, there is no such right of dissent for holders of a class or series of stock that is a “covered security” under Section 18(b)(1)(A) or (B) of the Securities Act. The Company’s common stock is listed on the Nasdaq Capital Market, a national securities exchange, making it a “covered security” within the meaning of Section 18(b)(1)(A) of the Securities Act. Therefore, the holders of common stock will not have the right under the NRS to dissent from, or demand payment for their shares in connection with, Proposal 1, and we will not independently provide our stockholders with such a right.

| Our Board of Directors recommends that the stockholders vote “FOR” Proposal 1 to   
 approve an amendment to the Articles of Incorporation to effect the Reverse Split. |

| PROXY STATEMENT | 14 |

<div align='center'>Proposal TWO:

APPROVAL OF THE series A preferred</div>

The board of directors has approved and recommends to the stockholders a proposal to approve sections in the outstanding Series A Convertible Preferred Stock (the “Series A Preferred”) pursuant to Rule 5635(d) of the Nasdaq Stock Market for the potential issuance of more than 19.99% of our outstanding common stock at below the Minimum Price under Nasdaq rules.

General

As previously disclosed on Current Reports on Form 8-K filed with SEC on August 25, 2025 and December 17, 2025, we sold shares of Series A Preferred and warrants to purchase shares of Common Stock pursuant to a registered direct offering. The investors purchased approximately $10.65 million of shares of Series A Preferred and warrants.

The Series A Preferred is convertible into common stock at any time at an initial conversion price of $2.19 and, upon the receipt of stockholder approval, subject to adjustment for certain anti-dilution provisions set forth in the Series A Certificate of Designation (the “Series A Conversion Price”), subject to a floor price of $0