Monitor for actual sales under this ATM program, as the full $1.84 million may not be raised. The small offering size relative to the company's financial challenges suggests this is a survival measure rather than growth capital. Watch for further dilution given the company's history of losses and low market cap.
Price Chart
Executive Summary
22nd Century Group is conducting an at-the-market offering of up to $1.84 million in common stock through Needham & Company. This takedown follows a recent shelf registration and is intended to fund general corporate purposes, including expansion of its VLN cigarette launch and R&D. The offering comes amid ongoing financial challenges and a history of losses.
Key Facts
- Company is offering up to $1,840,000 in common stock through an at-the-market offering with Needham & Company
- This is a takedown from a $250 million shelf registration filed on March 31, 2026
- Company has a market cap of only $1 million and a history of losses
- The offering includes 3% commission to the sales agent and significant dilution to new investors
- Proceeds will be used for general corporate purposes, expansion of VLN cigarette launch, and R&D
Financial Impact
Up to $1.84 million in gross proceeds, with $1.84 million in dilution to new investors at the $2.94 market price
Risk Factors
- Significant dilution to new investors ($2.10 per share)
- Company's history of losses and negative cash flows
- Small market cap ($1M) indicates high financial risk
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 424B5 Filing (Primary) | 0001493152-26-016173 |
| Document: 0001493152-26-016173-index-headers.html | 0001493152-26-016173 |
| Document: 0001493152-26-016173-index.html | 0001493152-26-016173 |
| Document: 0001493152-26-016173.txt | 0001493152-26-016173 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | 424B5 | $0.0884 | awaiting T+60 | — | $0.1048 (−18.55%) |
Oct 23, 2026 4d ago | 8-K | $0.0884 | awaiting T+60 | — | $0.1048 (−18.55%) |
Oct 22, 2026 5d ago | 8-K | $0.2157 | awaiting T+60 | — | $0.1048 (−51.41%) |
Oct 22, 2026 5d ago | Press Release | $0.2157 | awaiting T+60 | — | $0.1048 (−51.41%) |
Sep 1, 2026 8w ago | 8-K | $2.61 | awaiting T+60 | — | $0.1048 (−95.98%) |
Aug 13, 2026 10w ago | 8-K | $4.11 | awaiting T+60 | — | $0.1048 (+97.45%) |
Aug 13, 2026 10w ago | Press Release | $4.11 | awaiting T+60 | — | $0.1048 (+97.45%) |
Jul 2, 2026 16w ago | 8-K | $4.01 $0.8018 | ▲ +80.00% | ▲ +81.72% | $0.1048 (+97.39%) |
Jun 25, 2026 17w ago | EFFECT | $4.85 $1.79 | ▲ +63.09% | ▲ +66.95% | $0.1048 (+97.84%) |
Jun 9, 2026 20w ago | 8-K | $0.3650 $0.1140 | ▲ +68.77% | ▲ +73.67% | $0.1048 (+71.29%) |
US Market Status
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