22nd Century Group Inc (XXII)

[InTheTrenches]

Hey, kei:

Here are highlights from the 10/14/16 PR on the financing:

- Agreement with 2 investors, 8.5M shares at $1.3425 to raise about $11.4 million in gross proceeds.

- 4.25M warrants at exercise price of $1.45

- “...will greatly strengthen 22nd Century’s balance sheet and will ensure that the Company has more than 18 months of operating cash on hand,” explained Henry Sicignano, III, President and CEO of 22nd Century Group.

- “22nd Century looks forward to several important R&D catalysts in the coming months; this capital infusion will significantly improve our negotiating position in discussions with potential strategic partners.”

- Chardan Capital Markets, LLC acted as the sole placement agent for this transaction. (not surprising)