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22nd Century Group, Inc. Announces Early Exercise of Series B Warrants Resulting in Additional $1.25 Million of Proceeds


7/24/2013 9:58:52 AM

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CLARENCE, N.Y.--(BUSINESS WIRE)--22nd Century Group, Inc. (OTCQB: XXII) announced today that on July 23, 2013, Sabby Healthcare Master Fund, Ltd. and Sabby Warrant Master Fund Ltd. converted the last of their outstanding Series B Warrants into shares of the company’s common stock. Over the last five weeks, the Series B Warrants were converted into an aggregate of 2,083,334 shares of the company’s common stock and resulted in gross proceeds of $1.25 million to 22nd Century.

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