22nd Century Group Further Reduces Debt by $1.0 Million Following Financing Transaction
22nd Century Group (NASDAQ: XXII) has announced an additional $1.0 million debt reduction to its senior lender, bringing its total debt principal to approximately $3.9 million. Year to date, the company has achieved a total debt reduction of about $3.8 million. CEO Larry Firestone highlighted that total debt obligations have decreased significantly from approximately $20 million in December 2023 when he joined the company. The tobacco products company aims to become debt-free to focus resources on growth opportunities in contract manufacturing, reduced nicotine content, and branded products. The company will report its Q1 2025 results on May 13, 2025.
22nd Century Group (NASDAQ: XXII) ha annunciato una ulteriore riduzione del debito di 1,0 milioni di dollari verso il suo creditore senior, portando il debito totale residuo a circa 3,9 milioni di dollari. Da inizio anno, l'azienda ha ridotto il debito complessivo di circa 3,8 milioni di dollari. Il CEO Larry Firestone ha sottolineato che gli obblighi totali di debito sono diminuiti significativamente rispetto ai circa 20 milioni di dollari di dicembre 2023, quando è entrato in azienda. L'azienda produttrice di prodotti del tabacco punta a diventare completamente libera dal debito per concentrare le risorse sulle opportunità di crescita nella produzione su contratto, nei prodotti a contenuto ridotto di nicotina e nei prodotti a marchio proprio. I risultati del primo trimestre 2025 saranno comunicati il 13 maggio 2025.
22nd Century Group (NASDAQ: XXII) ha anunciado una reducción adicional de deuda de 1,0 millones de dólares con su prestamista principal, dejando el principal total de la deuda en aproximadamente 3,9 millones de dólares. En lo que va del año, la compañía ha logrado una reducción total de deuda de alrededor de 3,8 millones de dólares. El CEO Larry Firestone destacó que las obligaciones totales de deuda han disminuido significativamente desde aproximadamente 20 millones de dólares en diciembre de 2023, cuando se unió a la empresa. La compañía de productos de tabaco busca quedar libre de deuda para enfocar sus recursos en oportunidades de crecimiento en fabricación por contrato, productos con contenido reducido de nicotina y productos de marca propia. La empresa reportará sus resultados del primer trimestre de 2025 el 13 de mayo de 2025.
22nd Century Group (NASDAQ: XXII)는 주요 채권자에 대한 추가 100만 달러 부채 감소를 발표하여 총 부채 원금이 약 390만 달러로 줄어들었습니다. 올해 들어 회사는 총 약 380만 달러의 부채를 감축했습니다. CEO 래리 파이어스톤은 2023년 12월 회사에 합류했을 당시 약 2,000만 달러였던 총 부채 의무가 크게 줄었다고 강조했습니다. 이 담배 제품 회사는 부채를 완전히 청산하여 계약 제조, 니코틴 함량 감소 및 브랜드 제품 분야의 성장 기회에 자원을 집중하는 것을 목표로 하고 있습니다. 회사는 2025년 5월 13일에 2025년 1분기 실적을 발표할 예정입니다.
22nd Century Group (NASDAQ : XXII) a annoncé une réduction supplémentaire de sa dette de 1,0 million de dollars auprès de son prêteur principal, portant le montant total de la dette à environ 3,9 millions de dollars. Depuis le début de l'année, la société a réduit sa dette totale d'environ 3,8 millions de dollars. Le PDG Larry Firestone a souligné que les obligations totales de dette ont considérablement diminué depuis environ 20 millions de dollars en décembre 2023, lorsqu'il a rejoint l'entreprise. La société spécialisée dans les produits du tabac vise à devenir sans dette afin de concentrer ses ressources sur les opportunités de croissance dans la fabrication sous contrat, les produits à teneur réduite en nicotine et les produits de marque. Les résultats du premier trimestre 2025 seront publiés le 13 mai 2025.
22nd Century Group (NASDAQ: XXII) hat eine zusätzliche Schuldenreduzierung von 1,0 Millionen US-Dollar gegenüber seinem Hauptgläubiger angekündigt, wodurch die Gesamtschuld auf etwa 3,9 Millionen US-Dollar gesunken ist. Seit Jahresbeginn hat das Unternehmen insgesamt etwa 3,8 Millionen US-Dollar an Schulden abgebaut. CEO Larry Firestone betonte, dass die Gesamtverbindlichkeiten seit Dezember 2023, als er dem Unternehmen beitrat, von etwa 20 Millionen US-Dollar deutlich gesunken sind. Das Tabakunternehmen strebt an, schuldenfrei zu werden, um Ressourcen auf Wachstumschancen in den Bereichen Auftragsfertigung, nikotinreduzierte Produkte und Markenprodukte zu konzentrieren. Die Ergebnisse für das erste Quartal 2025 werden am 13. Mai 2025 veröffentlicht.
- Significant debt reduction of $1.0 million, lowering total debt principal to $3.9 million
- Total debt reduced by approximately $16.1 million since December 2023 (from $20 million)
- Year-to-date debt reduction of $3.8 million shows consistent progress in improving financial health
- Company still carries $3.9 million in remaining debt
Year to Date Total Debt Reduction of approximately
MOCKSVILLE, N.C., May 07, 2025 (GLOBE NEWSWIRE) -- 22nd Century Group, Inc. (Nasdaq: XXII), a tobacco products company that is leading the fight against nicotine dependence and believes smokers should have a choice about their nicotine consumption, today announced that has repaid an additional
“Our debt reduction progress has been outstanding and total debt principal is now less than
22nd Century will report its complete first quarter results on May 13, 2025, with a conference call the same day.
About 22nd Century Group, Inc.
22nd Century Group is the pioneering nicotine harm reduction company in the tobacco industry enabling smokers to take control of their nicotine consumption.
We created our flagship product, the VLN® cigarette, to give traditional cigarette smokers an authentic and familiar alternative that helps them take control of their nicotine consumption. VLN® cigarettes have
Our wholly owned subsidiaries include a leading cigarette manufacturer that produces all VLN® products and provides turnkey contract manufacturing for other tobacco brands both domestically and internationally. The 60,000 square foot facility in Mocksville, North Carolina has the capacity to produce more than 45 million cartons of combusted tobacco products annually with additional space for expansion.
Our proprietary reduced nicotine tobacco blends are made possible by comprehensive and patented technologies that regulate nicotine biosynthesis activities in the tobacco plant, resulting in full flavor and high yield with
VLN® and Helps You Smoke Less® are registered trademarks of 22nd Century Limited LLC.
Learn more at xxiicentury.com, on X (formerly Twitter), on LinkedIn, and on YouTube.
Learn more about VLN® at tryvln.com.
Cautionary Note Regarding Forward-Looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements, including but not limited to our full year business outlook. Forward-looking statements typically contain terms such as “anticipate,” “believe,” “consider,” “continue,” “could,” “estimate,” “expect,” “explore,” “foresee,” “goal,” “guidance,” “intend,” “likely,” “may,” “plan,” “potential,” “predict,” “preliminary,” “probable,” “project,” “promising,” “seek,” “should,” “will,” “would,” and similar expressions. Forward-looking statements include, but are not limited to, statements regarding (i) our cost reduction initiatives, (ii) our expectations regarding regulatory enforcement, including our ability to receive an exemption from new regulations, (iii) our financial and operating performance and (iv) our expectations for our business interruption insurance claim. Actual results might differ materially from those explicit or implicit in forward-looking statements. Important factors that could cause actual results to differ materially are set forth in “Risk Factors” in the Company’s Annual Report on Form 10-K filed on March 20, 2025. All information provided in this release is as of the date hereof, and the Company assumes no obligation to and does not intend to update these forward-looking statements, except as required by law.
Investor Relations & Media Contact
Matt Kreps
Investor Relations
22nd Century Group
mkreps@xxiicentury.com
214-597-8200
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