---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-071415"
form_type: "8-K"
ticker: "SMTK"
cik: "0001817760"
company_name: "SmartKem, Inc."
filed_at: "2023-06-15T23:59:59+00:00"
generated_at: "2026-06-14T00:30:41.274119+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# SmartKem raises $12.2M in private placement of convertible preferred stock and warrants

## Summary
- Sold 9,229 Series A-1 and 2,950 Series A-2 convertible preferred shares, plus Class A and B warrants, for $12.2M gross.
- Preferred shares convertible into common at $0.25/share; Class A warrants exercisable at $0.25, Class B at $0.01.
- Company may sell additional securities for up to $18M total in a second closing by June 23, 2023.
- Proceeds to be used for working capital and general corporate purposes.
- Placement agents: Special Equities Group (Dawson James) and Katalyst Securities; 8% cash fee.

## SEC filing metadata
- accession: 0001104659-23-071415
- form_type: 8-K
- ticker: SMTK
- cik: 0001817760
- company_name: SmartKem, Inc.
- filed_at: 2023-06-15T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 5.03, 3.02, 3.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1817760/000110465923071415/0001104659-23-071415-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1817760/000110465923071415/tm2318604d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-071415
- JSON: https://secwatch.observer/filing/0001104659-23-071415.json
- Plain text: https://secwatch.observer/filing/0001104659-23-071415.txt

## Key facts
- Governance Changes
  SmartKem, Inc.: Filed Certificate of Designation for Series A-1 Preferred Stock, designating 18,000 shares and setting terms (effective 2023-06-14).
  - Change: charter amendment
  - Effective: 2023-06-14
  source text: On June 14, 2023, the Company filed a Certificate of Designation of Preferences, Rights and Limitations with the Secretary of State of the State of Delaware designating 18,000 shares out of the authorized but unissued shares of its preferred stock as Series A-1 Preferred Stock with a stated value of $1,000 per share
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817760/000110465923071415/0001104659-23-071415-index.htm
- Material Agreements
  SmartKem, Inc. entered into Securities Purchase Agreement with investors named therein valued at aggregate gross proceeds of $12,179,000 (effective 2023-06-14).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: investors named therein
  - Value: aggregate gross proceeds of $12,179,000
  - Effective: 2023-06-14
  source text: On June 14, 2023, SmartKem, Inc., a Delaware corporation (the “Company”), entered into a Securities Purchase Agreement (the “Purchase Agreement”) with the i nvestors named therein (the “Purchasers”), pursuant to which the Company sold, in a private placement, an aggregate of (i) 9,229 shares (the “Series A-1 Preferred Shares”) of the Company’s Series A-1 Convertible Preferred Stock, stated value $1,000 per share (the “Series A-1 Preferred Stock”), initially convertible into an aggregate of 36,916,000 shares of the Company’s common stock, par value $0.0001 (the “Common Stock”) at a conversion price of $0.25 (subject to adjustment in certain circumstances), (ii) 2,950 shares (the “Series A-2 Preferred Shares” and together with the Series A-1 Preferred Shares, the “Preferred Shares”) of the Company’s Series A-2 Convertible Preferred Stock, stated value $1,000 per share (“Series A-2 Preferred Stock” and together with the Series A-1 Preferred Stock, the “Preferred Stock”), initially convert
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817760/000110465923071415/0001104659-23-071415-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.