22nd Century Group, Inc. (NASDAQ:XXII) shares are trading higher Friday after the company announced it repaid the remaining $3.9 million of its senior unsecured notes.
What To Know: The company said repayment of the debt lowers ongoing cash needs and operating costs by eliminating cash interest and amortization expense.
The company said its balance sheet now reflects working capital to support the purchase of a low nicotine leaf crop, which will allow for production of more than one million cartons of VLN combustible products.
CEO Larry Firestone said the company plans to focus resources on growth, margin expansion from branded products, and further adoption of partner VLN offerings.
Management said a portion of capital will be used to expand very low nicotine tobacco leaf inventory in the fourth quarter of 2025.
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XXII Price Action: At the time of writing, 22nd Century Group shares are trading 4.55% higher at $1.84, according to data from Benzinga Pro.
This illustration was generated using artificial intelligence via Midjourney.
