SmartKem converts $2.0M accounts payable to equity at $2.75/share

SmartKem, Inc.

Issued 385,130 shares of common stock and pre-funded warrants for 348,260 shares to satisfy $2,016,821 owed by subsidiary.
No cash consideration paid; all obligations fully discharged upon issuance.
Reduces accounts payable and ongoing cash requirements; strengthens balance sheet.
Securities issued in private transaction exempt from registration under Section 4(a)(2).

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SmartKem, Inc. entered into Debt Conversion Agreement with SmartKem Limited and a creditor valued at approximately $2,016,821 (effective 2026-02-05).

Action: entry
Counterparty: SmartKem Limited and a creditor
Value: approximately $2,016,821
Effective: 2026-02-05

Exact text from the filing

On February 5, 2026, SmartKem, Inc. (the “Company”) entered into a debt conversion agreement (the “Debt Conversion Agreement”) with SmartKem Limited, a wholly owned subsidiary of the Company, and a creditor (the “Creditor”), pursuant to which the Company agreed to issue to the Creditor (i) 385,130 shares of the Company’s common stock, par value $0.0001 per share (“Common Stock”), at an ascribed price of $2.75 per share and (ii) pre-funded warrants (the “Pre-Funded Warrant”) to purchase 348,260 shares of Common Stock in satisfaction of approximately $2,016,821 owed to the Creditor by SmartKem Limited.

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SmartKem, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-26-011252

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