BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

22nd Century Group, Inc. Investors Convert $1.7 Million of Notes Into Common Stock


2/7/2013 9:40:54 AM

CLARENCE, N.Y.--(BUSINESS WIRE)--22nd Century Group, Inc. (OTCBB: XXII) announced today that its balance sheet has been greatly strengthened through the elimination of more than $3 million of debt over the past month, including approximately $1.7 million of debt from convertible notes that was due on April 14, 2013. In December 2011, 22nd Century Group sold approximately $1.9 million of convertible promissory notes with an original issue discount of 15% for an aggregate purchase price of approximately $1.7 million in a private placement. On January 24, 2013, 22nd Century sent 15-day notices to all remaining note holders conveying the company’s intent to prepay the notes. This notice granted the note holders the right, at their sole option within the 15-day period, to convert the notes into shares of 22nd Century Group common stock and warrants to purchase shares of 22nd Century Group common stock.

Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES