Smartkem prices $7.65M combined public and private offering of common stock and warrants

SmartKem, Inc.

Gross proceeds of ~$7.65M from combined public and private offerings priced at $3.00 per share/unit.
Offering comprises 1,449,997 registered shares + Class D warrants in public offering; 169,784 unregistered shares, 930,215 pre-funded warrants, and 1,099,999 Class D warrants in private placement.
Class D warrants exercisable at $3.00, expire Dec 31, 2025; pre-funded warrants exercisable at $0.0001 per share.
Concurrently amended Series A-1 Preferred Stock: removed dividends, liquidation preference, reduced conversion price to $4.34, and blocked conversion until registration effective.

item 1.01 item 3.02 item 3.03 item 5.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

SmartKem, Inc.: Second Amended and Restated Certificate of Designations for Series A-1 Preferred Stock filed with Delaware on 2024-12-20, modifying dividend obligations, consent rights, liquidation preference, conversion price, conversion restrictions, and automatic conversion terms (effective 2024-12-20).

Change: charter amendment
Effective: 2024-12-20

Exact text from the filing

The Second Amended and Restated CoD was filed with the Secretary of State of Delaware on December 20, 2024.

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16 governance changes filed in the last 30 days. Browse all governance changes →

SmartKem, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-130523

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