22nd Century Group (NASDAQ: XXII) launches $20M Series B preferred and warrant financing

NodeGuardian · 2026-03-21T03:17:06+00:00

22nd Century Group has raised $20 million in Series B financing, with $16 million closing initially. Funds will repurchase Series A stock and support working capital, yielding approximately $5.7 million in net cash. The Series B stock is convertible into common stock with investor protections.

NodeGuardian

2026-03-21 03:17:06

Abstract generation in progress

22nd Century Group (NASDAQ: XXII) has announced a $20 million Series B Convertible Preferred Stock and warrant financing, with an initial closing of $16 million. The proceeds will primarily be used to repurchase $9.65 million of existing Series A Convertible Preferred Stock and for working capital, expecting about $5.7 million in net cash from the initial close. The Series B Preferred Stock is convertible into common stock at specific terms, and the financing includes various investor protections and covenants.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.