22nd century announces plan to eliminate its senior secured debt

Company bolsters balance sheet with $4.2 million capital infusion new senior leadership team announced to further drive shareholder value mocksville, north carolina--(newsfile corp. - april 8, 2024) - 22nd century group, inc. (nasdaq: xxii), a tobacco products company focused on nicotine harm reduction, today announced that it has entered into a binding letter of agreement with its senior secured lender, intended to eliminate all of its senior secured debt through potential debt for equity exchanges. additionally, the company has entered into separate definitive agreements for the purchase of common stock and warrants.
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