22nd Century Group, Inc. today (May 7) announced that repaid an additional $1 million in debt to its senior lender. The company’s total debt principal outstanding now stands at approximately $3.9 million.
“Our debt reduction progress has been outstanding and total debt principal is now less than $4 million, as compared with approximately $20 million of total debt obligations when I joined the company in December 2023,” said Larry Firestone, CEO of 22nd Century Group. “We are on our way to becoming debt-free, which will allow us to focus our resources on growth opportunities we see across our contract manufacturing business, as well as reduced nicotine content and branded products.”
22nd Century will report its complete first quarter results on May 13 with a conference call the same day.
