02:48 PM EDT, 09/13/2024 (MT Newswires) -- 22nd Century Group ( XXII ) entered a stock sale agreement with certain institutional investors and high net worth individuals for the sale of 6.1 million common shares to raise $3.48 million.

The company can raise up to $15.8 million in additional proceeds on the same terms from time to time, according to a regulatory filing Friday.

Company shares were up almost 25% in recent trading.

Price: 0.34, Change: +0.07, Percent Change: +24.62