DealsJul 21, 2026, 06:01 AM
SmartKem Raises $1M in Private Placement; Amends Purchase Pact
AI Summary
SmartKem, Inc. announced an amendment to its Securities Purchase Agreement and recent sales of equity securities. On July 16, 2026, the company raised approximately $1.0 million by issuing 1,250 shares of Series A Preferred Stock and 2,688,404 warrants in a private placement. This follows a previous $4.0 million raise on June 22, 2026. The amendment to the purchase agreement, also on July 16, 2026, allowed a new buyer to join and reallocated shares and warrants among investors, without changing the total amount available under the agreement.
Key Highlights
- SmartKem raised approximately $1.0 million in cash on July 16, 2026.
- This involved issuing 1,250 shares of Series A Preferred Stock and 2,688,404 warrants.
- An additional $4.0 million was raised on June 22, 2026, through 5,000 Series A Preferred Stock shares and 10,753,615 warrants.
- An amendment to the Securities Purchase Agreement on July 16, 2026, allowed a new party to join as a buyer.
- The amendment also reallocated shares and warrants among buyers for future additional closings.
- The amendment did not increase or decrease the aggregate number of shares and warrants available for purchase, which is up to $17.13 million.
Price Impact
More from SMTK