---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-074285"
form_type: "8-K"
ticker: "SMTK"
cik: "0001817760"
company_name: "SmartKem, Inc."
filed_at: "2023-06-23T23:59:59+00:00"
generated_at: "2026-06-13T18:19:59.987984+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# SmartKem completes $14.2M private placement; auditor changed from BDO to Marcum

## Summary
- Final closing raised ~$2M gross; total private placement gross proceeds of $14.2M.
- Issued Series A-1/A-2 convertible preferred stock convertible at $0.25/share and Class A warrants exercisable at $0.25.
- Auditor BDO resigned June 20, 2023; Marcum LLP engaged as independent auditor for FY 2023.
- BDO's prior reports included going-concern qualifications and material weaknesses, but no disagreements with management.
- Company intends to use net proceeds for working capital and general corporate purposes.

## SEC filing metadata
- accession: 0001104659-23-074285
- form_type: 8-K
- ticker: SMTK
- cik: 0001817760
- company_name: SmartKem, Inc.
- filed_at: 2023-06-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.02, 3.03, 5.03, 4.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1817760/000110465923074285/0001104659-23-074285-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1817760/000110465923074285/tm2319429d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-074285
- JSON: https://secwatch.observer/filing/0001104659-23-074285.json
- Plain text: https://secwatch.observer/filing/0001104659-23-074285.txt

## Key facts
- Auditor Changes
  BDO LLP resigned as auditor of SmartKem, Inc..
  - Action: resignation
  - Auditor: BDO LLP
  - Successor: Marcum LLP
  source text: equested and the Audit Committee (the “Audit Committee”) of the Board of Directors of the Company accepted the resignation of BDO LLP (“BDO”), the Company’s independent registered public accounting firm, effective June 20, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817760/000110465923074285/0001104659-23-074285-index.htm
- Auditor Changes
  SmartKem, Inc. engaged Marcum LLP as its auditor.
  - Action: engagement
  - Auditor: Marcum LLP
  source text: ommittee approved the engagement of Marcum LLP (“Marcum”) as its new independent registered public accounting firm as of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817760/000110465923074285/0001104659-23-074285-index.htm
- Material Agreements
  SmartKem, Inc. entered into Securities Purchase Agreement with the purchasers valued at aggregate gross proceeds of approximately $1.97 million (effective 2023-06-22).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: the purchasers
  - Value: aggregate gross proceeds of approximately $1.97 million
  - Effective: 2023-06-22
  source text: On June 22, 2023, the Company sold, pursuant to the Purchase Agreement, an additional (i) 1,870.36596 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 7,481,464 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) 100 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 convertible into an aggregate of 400,000 shares of Common Stock at a conversion price of $0.25 (subject to adjustment in certain circumstances) (the shares of Common Stock issuable upon conversi
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817760/000110465923074285/0001104659-23-074285-index.htm

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