22nd Century Group (NASDAQ: XXII) gets $9.5M insurance settlement

Rhea-AI Filing Summary

22nd Century Group, Inc. reported that it has settled its outstanding litigation with its insurer related to the November 2022 fire at its Grass Valley manufacturing facility in Oregon. As part of the settlement, the insurer will pay the company $9,500,000 in cash, and both parties will file a stipulated dismissal of the action with prejudice, meaning the case is fully and finally resolved. This brings in cash and removes ongoing legal uncertainty tied to the fire damage claim.

Insights

Litigation and special situations analyst

$9.5M cash insurance settlement ends fire-related lawsuit.

The company has reached a settlement with its insurer over the November 2022 fire at its Grass Valley manufacturing facility in Oregon. The insurer will pay $9,500,000 in cash, and the dispute will be dismissed with prejudice, which generally indicates a final resolution with no re-filing of the claim.

This outcome converts an uncertain litigation asset into a defined cash amount while closing out legal exposure on this matter. The filing does not detail how the cash compares to the loss or prior expectations, so the financial impact depends on the scale of the original damage and any related costs.

Investors can now look to future company disclosures for how this $9,500,000 is reflected in financial statements and whether any remaining operational or capital needs at the Grass Valley facility are discussed.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 18, 2025

22nd Century Group, Inc.

(Exact Name of Registrant as Specified in Charter)

Nevada		001-36338		98-0468420
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

321 Farmington Road, Mocksville, North Carolina (Address of Principal Executive Office) 27028 (Zip Code)

Registrant’s telephone number, including area code: (716) 270-1523

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading symbol		Name of each exchange on which registered
Common Stock, $0.00001 par value		XXII		NASDAQ Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events.

On September 18, 2025 (the “Effective Date”), 22nd Century Group, Inc. (the “Company”) settled its outstanding litigation with its insurer related to the November 2022 fire at the Company’s Grass Valley manufacturing facility in Oregon. Under the terms of the settlement, the insurer will pay the Company an aggregate amount of $9,500,000 in cash and the parties will file a stipulated dismissal of the action with prejudice.

Item 9.01(d): Financial Statements and Exhibits.

Exhibit 99.1		Press Release dated September 24, 2025
Exhibit 104		Cover Page Interactive Data File - The cover page XBRL tags are embedded within the inline XBRL document

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	22nd Century Group, Inc.
	/s/ Lawrence Firestone
Date: September 24, 2025	Lawrence Firestone
	Chief Executive Officer

FAQ

What did 22nd Century Group (XXII) announce in this 8-K?

22nd Century Group announced that it has settled litigation with its insurer related to a November 2022 fire at its Grass Valley manufacturing facility in Oregon. The insurer will pay $9,500,000 in cash, and the parties will dismiss the case with prejudice.

How much will 22nd Century Group receive from the insurance settlement?

The company will receive an aggregate cash payment of $9,500,000 from its insurer under the terms of the settlement.

What was the dispute between 22nd Century Group and its insurer about?

The dispute related to a fire that occurred in November 2022 at 22nd Century Group’s Grass Valley manufacturing facility in Oregon. The 8-K states that the settlement resolves litigation arising from this event.

What does dismissal of the action with prejudice mean for 22nd Century Group?

Dismissal of the action with prejudice means the lawsuit will be fully and finally closed, and the same claim generally cannot be brought again. For 22nd Century Group, this removes ongoing legal uncertainty tied to the insurance dispute.

Is there any related disclosure beyond the 8-K for this settlement?

The 8-K references an exhibit, a press release dated September 24, 2025, which likely provides additional detail. The main filing itself focuses on the $9,500,000 cash payment and the dismissal with prejudice.

Does this settlement affect 22nd Century Group’s operations at Grass Valley?

The filing describes the settlement and payment amount but does not provide additional operational detail about the Grass Valley facility. It ties the litigation to the November 2022 fire at that manufacturing site.