NASDAQ Hemp And Tobacco Company Slashes Debt, Boosts Savings
Portfolio Pulse from Jelena Martinovic
22nd Century Group, Inc. (NASDAQ:XXII) has reduced its outstanding principal of its senior secured credit facility from $22.1 million to $14 million. The reduction is expected to result in annual cash interest savings of approximately $500,000. After the debt reduction, the company announced a public offering with $5.25 million in gross proceeds.
October 25, 2023 | 5:21 pm
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22nd Century Group has reduced its debt, which is expected to result in annual cash interest savings. This could improve the company's financial health and attract investors.
The reduction in debt and the expected savings in annual cash interest could improve the company's financial health, making it more attractive to investors. This could potentially lead to an increase in the company's stock price.
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