22Nd Century Group (Xxii) Secures $21 Million Debt Financing To Expand Working Capital For Growth Initiatives
Amount Raised
$21 Million
Round Type
Debt Financing
BuffaloManufacturingInformation TechnologyBiotechnologyAgriculture and FarmingMedia And EntertainmentHealth CareScience And EngineeringPrivacy And SecurityDescription
22nd Century Group, Inc. (Nasdaq: XXII), the world’s leading biotechnology company dedicated to improving health with reduced nicotine tobacco and advanced plant technologies in both hemp/cannabis and hops, today announced a new $21 million senior secured debenture financing to support increased working capital needs related to the significant growth outlook in both its VLN® and GVB business lines. The new three-year financing was issued at 5% original issuance discount (OID), will bear cash interest at a rate of 7% per annum, and commence principal amortization in the second year at a rate of 2% of the original balance per month. The Company has the option to redeem the facility early starting in the second year.
Quick answer
22nd Century raised $21 Million in a Debt Financing round, dated March 3, 2023. 22nd Century is based in Buffalo, New York, United States.
- How much did 22nd Century raise?
- 22nd Century raised $21 Million in a Debt Financing round on March 3, 2023.
- What does 22nd Century do?
- 22nd Century Group is a leading agricultural biotechnology company dedicated to improving human health with reduced nicotine tobacco, hemp/cannabis, and hops advanced plant technology.
- Where is 22nd Century based and how big is it?
- 22nd Century is based in Buffalo, New York, United States.
- Who are the decision-makers at 22nd Century?
- Fundz holds 1 contact at 22nd Century. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Agriculture and Farming and Media And Entertainment around the same time
Companies in the same sectors as 22nd Century that raised within 45 days of this round, from Fundz verified event records.
- Cryomass Technologies raised $932K (Seed) on April 17, 2023.
- Persist AI raised $4.9M (Seed) on April 13, 2023.
- Wheeler Bio raised $31M (Series A) on April 13, 2023.
- Geneos Therapeutics raised $5M (Series A) on April 12, 2023.
- Amend Surgical raised an undisclosed amount (Funding Round) on April 11, 2023.
- Phlow raised $35M (Series B) on April 5, 2023.
Who to call at 22nd Century, and when
A new round usually means 22nd Century is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day 22nd Century raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at 22nd Century, from your own LinkedIn network
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Related People
22nd Century raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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