secwatch.observer — SEC 8-K summary
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Issuer:     SmartKem, Inc. (SMTK)
CIK:        0001817760
Form:       8-K
Filed at:   2026-03-31T23:59:59+00:00
Accession:  0001104659-26-037405
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SmartKem raises ~$9.1M in Series A Preferred & warrant placement; also enters up to $500M ELOC
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- Private placement of 11,411.5 Series A Preferred shares and 23,251,960 warrants at $0.5812 per share; gross proceeds ~$9.13M.
- Existing $3.75M March Notes can be exchanged at 120% premium into the placement.
- ELOC allows sale of up to $500M common stock at 90% of lowest daily price/VWAP; 10,000 Series A Preferred shares as commitment fee.
- Company believes it now meets Nasdaq $2.5M stockholders' equity requirement; awaits formal confirmation.
- Stockholder vote required to authorize 5B common shares, reverse stock split, and increase equity plan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817760/000110465926037405/0001104659-26-037405-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817760/000110465926037405/tm2610643d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-037405

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