secwatch.observer — SEC 8-K summary
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Issuer:     SmartKem, Inc. (SMTK)
CIK:        0001817760
Form:       8-K
Filed at:   2023-06-15T23:59:59+00:00
Accession:  0001104659-23-071415
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 5.03, 3.02, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817760/000110465923071415/0001104659-23-071415-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817760/000110465923071415/tm2318604d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-071415

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer