Form 8-K - Current report
November 13 2023 - 5:01AM
Edgar (US Regulatory)
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0001347858
0001347858
2023-11-07
2023-11-07
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): November 7, 2023
22nd Century Group, Inc.
(Exact
Name of Registrant as Specified in Charter)
Nevada |
001-36338 |
98-0468420 |
(State or Other Jurisdiction of
Incorporation) |
(Commission File Number) |
(I.R.S. Employer
Identification No.) |
500 Seneca Street, Suite 508, Buffalo, New York
(Address of Principal Executive Office) |
14204
(Zip Code) |
Registrant’s
telephone number, including area code: (716) 270-1523
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
Registered pursuant to Section 12(b) of the Act:
Title of Each Class |
Trading
Symbol |
Name
of Exchange on Which Registered |
Common
Stock, $0.00001 par value per share |
XXII |
Nasdaq Capital Market |
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ¨
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 3.01. |
Notice of Delisting or Failure to Satisfy a Continued Listing
Rule or Standard; Transfer of Listing. |
On November 7, 2023, 22nd Century Group, Inc. (the “Company”)
received a deficiency letter from the Nasdaq Listing Qualifications Department indicating that for the last 31 consecutive business days
the Company’s common stock did not maintain a minimum closing bid price of $1.00 per share (the “Minimum Bid Price Requirement”)
for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2).
The notification of noncompliance has no immediate effect on the listing
or trading of the Company’s common stock on the Nasdaq Capital Market. Under Nasdaq Listing Rule 5810(c)(3)(A), if during the 180
calendar days following the date of the notification, or prior to May 6, 2024, the closing bid price of the Company’s stock is at
or above $1.00 for a minimum of 10 consecutive business days, the Company will regain compliance with the Minimum Bid Price Requirement.
If the Company does not regain compliance with Rule 5550(a)(2) by May
6, 2024, the Company may be eligible for a second 180 calendar day period to regain compliance. To qualify, the Company would be required
to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq
Capital Market, except for the Minimum Bid Price Requirement. In addition, the Company would be required to provide written notice to
Nasdaq of its intent to cure the deficiency during the second compliance period.
The Company intends to monitor the closing bid price of its common
stock and may, if appropriate, consider implementing available options to regain compliance with the Minimum Bid Price Requirement under
the Nasdaq Listing Rules.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| 22ND CENTURY GROUP, INC. |
| |
Date: November 10, 2023 | /s/ Peter Ferola |
| Peter Ferola |
| Chief Legal Officer |
v3.23.3
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Nov. 07, 2023 |
Cover [Abstract] |
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Document Type |
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Document Period End Date |
Nov. 07, 2023
|
Entity File Number |
001-36338
|
Entity Registrant Name |
22nd Century Group, Inc.
|
Entity Central Index Key |
0001347858
|
Entity Tax Identification Number |
98-0468420
|
Entity Incorporation, State or Country Code |
NV
|
Entity Address, Address Line One |
500 Seneca Street
|
Entity Address, Address Line Two |
Suite 508
|
Entity Address, City or Town |
Buffalo
|
Entity Address, State or Province |
NY
|
Entity Address, Postal Zip Code |
14204
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City Area Code |
716
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Title of 12(b) Security |
Common
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XXII
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NASDAQ
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