3Q22 Investor Update
1.
SUMMARY BALANCE SHEET ITEMS
(in millions)
Cash and cash equivalents¹
Total assets
Total liabilities
Total shareholders' equity
Balance sheet date as of:
3Q 2022
4Q 2021
$ 43.7
$48.7
$ 142.2
$76.0
$ 21.1
$9.9
$ 121.1
$66.1
Cash and cash equivalents includes short-term investment securities.
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22ND CENTURY GROUP
Strengthened balance sheet during 2022
Strong working capital as of September 30, 2022
In October 2022, paid outstanding principal and
interest of certain GVB Bridge Notes; expected
refinancing of remaining portion
Recognized $44.2M of goodwill and intangible
assets as a result of GVB acquisition
Strength of balance sheet supports our near-term strategic initiatives including accelerating VLN® launch, meeting increased
customer demand for GVB products, and continuing to prioritize key R&D projects to support our three plant science businesses.
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