22nd Century Group Announces 1-For-58 Reverse Stock Split, Effective November 5, 2026
Benzinga Newsdesk 8 hours ago
Stock SplitNews
On November 3, 2026, 22nd Century Group, Inc. (the "Company") will file a Certificate of Amendment (the "Certificate") pursuant to Nevada Revised Statutes ("NRS") Section 78.209 with the
On November 3, 2026, 22nd Century Group, Inc. (the "Company") will file a Certificate of Amendment (the "Certificate") pursuant to Nevada Revised Statutes ("NRS") Section 78.209 with the Secretary of State of the State of Nevada authorizing a 1-for-58 reverse stock split of the Company’s issued and outstanding shares of common stock (the "Reverse Stock Split").
Reason for the Reverse Stock Split
The Reverse Stock Split was effected solely to enable the Company to expeditiously restore compliance with the continued listing standard of NASDAQ Capital Market ("NASDAQ").
Effects of the Reverse Stock Split
Effective Date; Symbol; CUSIP Number. The Reverse Stock Split will become effective at 12:01 a.m. Eastern Time on November 5, 2026, and will be reflected with NASDAQ and in the marketplace at the open of business on November 5, 2026 (the "Effective Date"), whereupon the shares of common stock will begin trading on a split-adjusted basis. In connection with the Reverse Stock Split, the Company’s shares of common stock will continue to trade on NASDAQ under the symbol "XXII" but will trade under a new CUSIP Number, 90137F806.
Split Adjustment; No Fractional Shares. On the Effective Date, the total number of shares of the Company’s common stock held by each stockholder will be converted automatically into the number of whole shares of common stock equal to (i) the number of issued and outstanding shares of common stock held by such stockholder immediately prior to the Reverse Stock Split, divided by (ii) 58.
No fractional shares will be issued, and no cash or other consideration will be paid. Instead, the Company will issue one whole share of the post-Reverse Stock Split common stock to any stockholder who otherwise would have received a fractional share as a result of the Reverse Stock Split.
Non-Certificated Shares; Certificated Shares. Stockholders who are holding their shares in electronic form at brokerage firms do not have to take any action as the effect of the Reverse Stock Split will automatically be reflected in their brokerage accounts.
Stockholders holding paper certificates may (but are not required to) send the certificates to the Company’s transfer agent at the address given below. The transfer agent will issue a new share certificate reflecting the terms of the Reverse Stock Split to each requesting stockholder.
