---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-007568"
form_type: "8-K"
ticker: "SMTK"
cik: "0001817760"
company_name: "SmartKem, Inc."
filed_at: "2024-01-29T23:59:59+00:00"
generated_at: "2026-06-06T16:03:29.569024+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# SmartKem converts 90% of Series A-1 Preferred into common stock and warrants; amends terms

## Summary
- Converted 4,220 Series A-1 shares into 482,293 common shares; exchanged 5,743 shares for Class C warrants covering 656,344 shares.
- Stated value increased from $1,000 to $10,000 per share; conversion price adjusted to $87.50.
- Series A-1 voting rights removed except as required by law; negative covenants added on debt, liens, and affiliate transactions.
- Registration Rights Agreement requires filing of resale registration by April 11, 2024 or 10 days after 10-K filing.
- Amended Purchase Agreement to reflect the reverse split and new stated value; holding periods under Rule 144 preserved.

## SEC filing metadata
- accession: 0001104659-24-007568
- form_type: 8-K
- ticker: SMTK
- cik: 0001817760
- company_name: SmartKem, Inc.
- filed_at: 2024-01-29T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 5.03, 3.02, 3.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1817760/000110465924007568/0001104659-24-007568-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1817760/000110465924007568/tm243081d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-007568
- JSON: https://secwatch.observer/filing/0001104659-24-007568.json
- Plain text: https://secwatch.observer/filing/0001104659-24-007568.txt

## Key facts
- Governance Changes
  SmartKem, Inc.: Filed Amended and Restated Series A-1 Certificate of Designation designating 11,100 shares of Series A-1 Preferred Stock (effective 2024-01-29).
  - Change: charter amendment
  - Effective: 2024-01-29
  source text: On January 29, 2024, the Company filed the Amended and Restated Series A-1 Certificate of Designation with the Secretary of State of the State of Delaware designating 11,100 shares of Series A-1 Preferred Stock, stated value $10,000 per share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817760/000110465924007568/0001104659-24-007568-index.htm
- Material Agreements
  SmartKem, Inc. amended Consent, Conversion and Amendment Agreement with holders of Series A-1 Preferred Stock (effective 2023-01-26).
  - Action: amendment
  - Agreement: equity purchase
  - Counterparty: holders of Series A-1 Preferred Stock
  - Effective: 2023-01-26
  source text: On January 26, 2023, the Company entered into a Consent, Conversion and Amendment Agreement (the “Consent Agreement”) with each holder of the Series A-1 Preferred Stock (each a “Holder” and together, the “Holders”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1817760/000110465924007568/0001104659-24-007568-index.htm

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