SmartKem disclosed a private placement tied to a March 30, 2026 Securities Purchase Agreement for up to USD 17.13 million of Series A convertible preferred stock.
The initial closing issued 11,411 shares of Series A convertible preferred stock with USD 1,000 stated value per share.
Investors also received warrants to buy up to 23,251,960 common shares.
Investors can require additional closings for up to 10,000 more Series A preferred shares with additional warrants, subject to conditions.
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