22nd Century Group Closes Registered Direct Offering, Raises $40M

Plant-based biotech company 22nd Century Group, Inc. (NYSE AMEX: XXII) has raised $40 million through a previously announced registered direct offering of its 10 million common shares at $4.00 per share.

The Buffalo, New York-based company closed the offering on Wednesday.

Cowen and Company, LLC acted as the only placement agent for the transaction, while the Special Equities Group, a Dawson James Securities Inc.'s division, served as financial advisor.

“This straight common equity financing will accelerate our …

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