22nd Century Group, Inc.

22nd Century Group, Inc. is holding a Special Meeting of Stockholders on August 5, 2026, to vote on several key proposals. The primary proposal seeks approval for an amendment to its Articles of Incorporation to effect a reverse stock split at a ratio between 1-for-2 and 1-for-200, at the Board's discretion, to maintain compliance with Nasdaq listing rules. Additionally, stockholders will vote on approving the issuance of 3,019,586 inducement warrants, and potential future offerings of up to $20 million in convertible preferred stock and up to $10 million in common stock, both with accompanying warrants.

22nd Century Group, Inc. has launched a warrant inducement offering targeting holders of its outstanding warrants. The company is offering new warrants at a reduced exercise price of $0.4626 in exchange for the immediate exercise of existing warrants at $3.57. This move aims to raise capital and restructure its outstanding warrants. The company will need stockholder approval for the issuance of new shares and has agreed to file a registration statement for the resale of these shares. Approximately $462,800 in cash proceeds were generated, along with the redemption of Series B Preferred Stock.

22nd Century Group, Inc. completed a warrant inducement offering, generating approximately $462,800 in gross cash proceeds. The company also redeemed $2,010,000 worth of Series B Convertible Preferred Stock. Holders of existing warrants exercised them at a reduced price of $0.4626, receiving new inducement warrants with the same exercise price, subject to stockholder approval and registration. The company will hold a stockholder meeting to approve the issuance of shares underlying the new warrants and file a registration statement for their resale. The filing also noted the company has substantial doubt regarding its ability to continue as a going concern.

22nd Century Group, Inc. announced the launch of Pinnacle Pure, a new tobacco and water style combustible cigarette, further expanding its Pinnacle branded product line. This new product is expected to be available in over 2,000 locations through top national retailers, with its launch anticipated in the second quarter of 2026. The company expects Pinnacle Pure to contribute high margins and strengthen the overall economics of the Pinnacle portfolio, reinforcing its position as a scaled supplier in the tobacco market.

22nd Century Group announced the launch of its Pinnacle VLN® cigarette brand in almost 150 new high-visibility store locations across the metro New York area and northern New Jersey. This expansion is a key step in the company's commercial growth strategy, aiming to introduce VLN® to new consumers and capture a large adult-smoker market, potentially accelerating high-margin revenue. The company believes this rollout will strengthen its market visibility and advance towards cash-positive operations.

22nd Century Group announced that the U.S. Food and Drug Administration (FDA) has filed for scientific review two Modified Risk Tobacco Product (MRTP) renewal applications for its VLN® King and VLN® Menthol King combusted cigarettes. This is a critical procedural step for the continued marketing of these products with authorized modified risk claims beyond their December 2026 expiration. The company believes this development reflects the strength of the scientific and regulatory foundation supporting VLN®, citing a 2024 study demonstrating a 40% reduction in daily cigarette consumption among users.

22nd Century Group reported a net revenue of $4.11 million for Q1 2026, a 31% decrease from $5.96 million in Q1 2025. The company posted a net loss available to common shareholders of $10.77 million, significantly higher than $4.33 million in the prior year, largely due to deemed dividends and preferred stock redemption. The filing includes a substantial doubt about the company's ability to continue as a going concern, despite an increase in cash and cash equivalents to $9.55 million, primarily from financing activities including the issuance of Series B convertible preferred stock.

22nd Century Group reported first-quarter 2026 net revenues of $4.1 million, a 31.1% decrease year-over-year, but a slight increase from Q4 2025. The net loss from continuing operations improved to $(3.0) million compared to $(3.3) million in Q1 2025. The company continues to expand VLN® commercial distribution, targeting over 5,000 retail outlets by year-end 2026, and is advancing its PMTA portfolio and licensing strategy for new low-nicotine tobacco products.

22nd Century Group announced its first quarter 2026 results, with net revenues slightly increasing to $4.1 million from $3.5 million in Q4 2025, though net loss widened to $3.3 million and Adjusted EBITDA loss increased to $2.6 million. The company continues its VLN commercial expansion, aiming to reach over 5,000 retail outlets by the end of 2026, and is advancing its PMTA portfolio and licensing strategy to further penetrate the market with its reduced nicotine products.

22nd Century Group, Inc. filed a prospectus supplement on May 1, 2026, enabling the sale of $6,400,000 shares of its common stock. This offering will be conducted through its amended sales agreement with Needham & Company, LLC. As of the filing date, the company had 4,455,649 shares of common stock outstanding and had not sold any shares under this agreement in the prior 12 months.