22nd Century Group Plans Public Offering of Common Stock and Warrants

22nd Century Group plans to offer common stock and warrants in the public market for general corporate purposes.

According to a Menafn report on October 16, biotechnology company 22nd Century Group announced that it plans to sell its common stock (or pre-funded warrants in lieu thereof) and warrants to purchase common stock in a public offering. All common stock (or common stock equivalents) and warrants sold in the offering will be issued by 22nd Century Group. 

Dawson James Securities will act as the sole placement agent for the public offering. The company expects to use the net proceeds from the offering for general corporate purposes. 

It is reported that 22nd Century Group is a leading biotechnology company dedicated to improving health through advanced plant technologies involving reduced-nicotine tobacco, hemp/cannabis, and hops. In December 2021, the company received the first and only Modified Risk Tobacco Product (MRTP) authorization from the U.S. Food and Drug Administration for a combustible tobacco product.