22nd Century Group (XXII) Company Report

22nd Century Group, Inc. (XXII) filed a Certificate of Amendment on January 22, 2026, to effect a 1-for-15 reverse stock split.
The primary reason for this reverse stock split is to restore compliance with the continued listing standards of the NASDAQ Capital Market.
The reverse stock split will become effective on January 26, 2026, with shares continuing to trade under the symbol "XXII" but with a new CUSIP Number, 90137F608.
As of January 22, 2026, the 7,652,661 outstanding shares of common stock will be reduced to approximately 510,177 shares post-split, with no fractional shares being issued.

Jan 22, 2026, 1:00 PM

8-K

22nd Century Group Updates on VLN Product Launch and Financial Outlook

XXII

Product Launch

Guidance Update

New Projects/Investments

22nd Century Group (XXII) is transitioning from a debt-laden turnaround company to a product launch and growth company, focusing on its VLN branded products for nicotine harm reduction.
The company is now debt-free and, following a $9.5 million insurance settlement, has cash to operate "deep into 2026".
Their VLN cigarettes, marketed under Smoker Friendly, Pinnacle, and 22nd Century brands, target 20.5 million U.S. smokers who want to change their habit.
The company anticipates reaching break-even in the first half of 2026 and covering its own cash flow by then, while the VLN rollout in South Korea is currently on hold to prioritize the U.S. market.

Dec 10, 2025, 8:55 PM

Transcript

22nd Century Group Provides Update on VLN Rollout and Financial Outlook

XXII

Guidance Update

Product Launch

New Projects/Investments

22nd Century Group (XXII) is transitioning from a debt-laden turnaround company to a product launch and growth company, focusing on its VLN branded products for nicotine harm reduction.
The company is now debt-free and, following a $9.5 million insurance settlement, has cash on its balance sheet to operate deep into 2026.
Management anticipates reaching break-even in the first half of 2026 and covering its own cash flow by that time.
VLN products are being rolled out under three brands (Smoker Friendly, Pinnacle, and 22nd Century), with initial store inventories being loaded and some stores already reordering, targeting 20.5 million U.S. smokers who want to change their habit.

Dec 10, 2025, 8:55 PM

Transcript

22nd Century Group Updates on VLN Product Rollout and Financial Outlook

XXII

Product Launch

New Projects/Investments

Guidance Update

22nd Century Group (XXII) is transitioning from a debt-laden turnaround company to a product launch and growth company, focusing on nicotine harm reduction with its VLN branded products.
The company is now debt-free and has cash on its balance sheet to fund operations deep into 2026, supported by a $9.5 million insurance settlement.
The company is targeting break-even in the first half of 2026 by shifting from high-volume, low-margin CMO business to profitable revenues from its branded product lineup.
The VLN product rollout is underway in the U.S. under Smoker Friendly, Pinnacle, and 22nd Century brands, with initial store inventories being loaded and some reorders occurring, while the South Korea rollout is on hold to prioritize the U.S. market.

Dec 10, 2025, 8:55 PM

Transcript

22nd Century Group Reports Q3 2025 Results, Strategic Shift, and Balance Sheet Improvement

XXII

Earnings

Guidance Update

Product Launch

For Q3 2025, 22nd Century Group reported net revenue of $4 million, a net loss from continuing operations of approximately $3.8 million, and an Adjusted EBITDA loss of $2.9 million.
The company significantly improved its balance sheet, becoming debt-free and ending Q3 2025 with $4.8 million in cash and a $9.5 million receivable from an insurance settlement, which was received in October 2025, bringing post-quarter end cash to approximately $14 million.
A strategic shift is underway from low-margin CMO business to higher-margin branded products, with the new business model having a break-even point of approximately 500,000 cartons compared to over 12 million cartons for the former CMO business.
VLN and partner VLN products are now distributed in approximately 1,500 stores across 21 states, with authorization in approximately 40 states, and the company is targeting EBITDA break-even by Q2 2026.

Nov 4, 2025, 1:00 PM

Transcript

22nd Century Group Reports Q3 2025 Results, Achieves Debt-Free Status, and Announces ATM Offering

XXII

Earnings

Product Launch

New Projects/Investments

22nd Century Group reported a net income of $5.5 million for the third quarter ended September 30, 2025, primarily driven by a $9.5 million insurance settlement from discontinued operations.
The company achieved a debt-free balance sheet by extinguishing $3.9 million in senior secured debt and ended the quarter with $4.8 million in cash, with an additional $9.5 million in insurance proceeds received subsequent to quarter-end.
Net revenues for Q3 2025 were $4.0 million, resulting in a gross loss of $1.1 million and an operating loss of $3.2 million.
To support its growth phase and VLN® product expansion, the company entered into a Sales Agreement for an At-The-Market (ATM) Offering to sell up to $25.0 million of common stock.

Nov 4, 2025, 11:06 AM

8-K

XXII Secures $9.5 Million Cash Proceeds from Insurance Claim Settlement

XXII

Legal Proceedings

Guidance Update

22nd Century Group, Inc. (XXII) has secured $9.5 million in cash proceeds from the settlement of an insurance claim related to the November 2022 Grass Valley incident.
The settlement agreement was reached on September 18, 2025, with the payment required within 45 days of this effective date.
The company's CEO stated that this non-dilutive cash, combined with the company being debt-free, positions them to drive to profitability in 2026.

Sep 24, 2025, 8:45 PM

8-K

22nd Century Group Announces Debt-Free Balance Sheet and New Growth Capital

XXII

Convertible Preferred Issuance

Debt Issuance

New Projects/Investments

22nd Century Group, Inc. (XXII) announced it has achieved a debt-free balance sheet after repaying the remaining $3.9 million of its senior secured debt in full on September 18, 2025, following a Series A convertible preferred stock offering.
This repayment eliminated cash interest and amortization expenses, and the company's CEO noted that over $20 million in senior secured and subordinated debt has been eliminated since he joined.
The completion of the Series A offering and debt repayment resulted in an approximate $9.1 million increase in as adjusted pro forma net tangible book value, or approximately $1.05 per share.
Management plans to deploy a portion of this new capital to expand its very low nicotine tobacco leaf inventory in Q4 2025, which is expected to support the production of more than 1 million cartons of VLN combustible products.

Sep 18, 2025, 8:15 PM

8-K

22nd Century Group, Inc. announces $10.65 million registered direct offering

XXII

Convertible Preferred Issuance

Proxy Vote Outcomes

22nd Century Group, Inc. entered into a securities purchase agreement on August 22, 2025, for a registered direct offering.
The offering includes the sale of $10.65 million of Series A Convertible Preferred Stock and warrants to purchase common stock.
The Series A Preferred Stock is initially convertible into 4,863,013 shares of common stock at an initial conversion price of $2.19, and the warrants are exercisable at $1.97 per share.
The company expects to receive approximately $10 million in net proceeds, which will be used to repay outstanding indebtedness and for working capital.
The offering is expected to close on August 26, 2025, and the company will seek stockholder approval for the transaction within 90 days of closing.