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XXII > SEC Filings for XXII > Form 8-K on 13-Nov-2012All Recent SEC Filings

Show all filings for 22ND CENTURY GROUP, INC.



Entry into a Material Definitive Agreement, Financial Statements and Exh

Item 1.01 Entry into a Material Definitive Agreement.

On November 9, 2012, 22nd Century Group Inc. (the "Company") entered into a Securities Purchase Agreement (the "Agreement") with certain accredited investors (collectively, the "Investors"), whereby the Investors acquired approximately 3,238,000 shares of the Company's common stock, $0.00001 par value (the "Common Stock"), and warrants with a 5-year term to purchase up to 1,619,000 shares of the Company's Common Stock at an exercise price of $1.00 per share (the "Warrants") for an aggregate purchase price of approximately $809,500 (the "Offering"). The Company intends to use the proceeds from the Offering for licensing expenses, tobacco leaf purchases, working capital and other general corporate purposes.

The Common Stock and Warrants were offered and sold to only "accredited investors" (as defined in section 501(a) of Regulation D of the Securities Act of 1933) pursuant to an exemption from the registration requirements under Sections 4 (2), Section 4(6) and Regulation S of the Securities Act and Rule 506 of Regulation D promulgated thereunder. The shares of Common Stock sold in the Offering as well as the shares of Common Stock to be issued upon exercise of the Warrants have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States in the absence of an effective registration statement or exemption from the registration requirements. The Company may be required to pay certain commissions in connection with the Offering.

The foregoing descriptions of the Agreement and Warrants do not purport to be complete and are qualified in their entirety by reference to such documents, which are attached hereto as Exhibits 4.1 and 10.1, respectively, and are incorporated herein by this reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

4.1 Form of Warrant

10.1 Form of Securities Purchase Agreement, dated as of November 9, 2012, by and between 22nd Century Group, Inc. and the Investors.

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