22nd Century Group acquired NASCO Products, LLC for $250,000 cash plus 640,000 unregistered shares of 22nd Century common stock (subject to reduction for unpaid NASCO liabilities), a transaction completed in August 2014, structured as Membership Interest Purchase Agreement (purchase of all issued and outstanding membership interests); cash plus stock consideration. Closing was conditioned on, and occurred upon, the Settling States consenting to an amended MSA adherence agreement..
NASCO Products, LLC operates in Tobacco, is based in North Carolina, United States. 22nd Century Group acquired all of the membership interests of NASCO Products, LLC, a North Carolina-based federally licensed tobacco product manufacturer and a participating member of the U.S. tobacco Master Settlement Agreement (MSA) since 2005, from sole member Ralph Angiuoli.
The acquisition made 22nd Century Group a signatory member of the MSA and gave it a federally licensed tobacco manufacturer, enabling the Company to manufacture and market its tobacco products within the MSA framework.
Operated as a wholly-owned subsidiary of 22nd Century Group, Inc.
Advisory firms were not disclosed for this transaction.