22nd Century prices 10M shares at 52.5c in public offering

22nd Century Group announced the pricing of its previously announced public offering of 10,000,000 shares of its common stock and accompanying warrants. The warrants have an exercise price of $0.525 per share, are immediately exercisable and will expire five years following the date of issuance. The offering is expected to close on or about October 19, 2023, subject to the satisfaction of customary closing conditions. The Special Equities Group, a division of Dawson James Securities, Inc., is acting as the sole placement agent for this offering. The gross proceeds from the offering to the Company are expected to be approximately $5.25 million, before deducting placement agent’s fees and other offering expenses payable by the Company. The Company expects to use the net proceeds of the offering for general corporate purposes.