Item 1.01 Entry into a Material Definitive Agreement Series A Preferred Stock On March 30, 2026, SmartKem, Inc. (the "Company") entered into a Securities Purchase Agreement (the "Preferred Stock Purchase Agreement") with certain institutional investors (collectively, the "Buyers"), including certain March Noteholders (as defined below) pursuant to which the Company agreed to issue and sell to the Buyers in a private placement (the “Private Placement”), at an initial closing, (i) 11,411.5 shares of the Company's newly designated Series A Convertible Preferred Stock, par value $0.0001 per share (the "Series A Preferred Stock"), with a stated value of $1,000 per share, convertible into shares of the Company's common stock, par value $0.0001 per share (the "Common Stock"), at an initial conversion price of $0.5812 per share, subject to adjustment as set forth in the Certificate of Designations (as defined below), and (ii) warrants to purchase up to 24,542,982 shares of Common Stock (the “Warrants”).
SMTK Smartkem, Inc. - 8-K/A
Accession
0001104659-26-0468071.019.01
Item 1.01 - Entry into a Material Definitive Agreement
153 words
Item 9.01 - Financial Statements and Exhibits
27 words
Item 9.01 Financial Statement and Exhibits (d) Exhibits Exhibit No. Description 4.1 Form of Warrant 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)