UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01. Other Events.
Pursuant to the terms of the Series A-1 Convertible Preferred Stock, stated value $10,000 per share (“Series A-1 Preferred Stock”), of SmartKem, Inc. (the “Company”), effective at 4:00 P.M. (New York time) on May 7, 2025, the remaining 856 outstanding shares of Series A-1 Preferred Stock automatically converted (the “Automatic Conversion”) into an aggregate of (i) 690,788 shares of common stock, par value $0.0001 per share (the “Common Stock”), of the Company and (ii) Class C warrants to purchase 1,282,412 shares of Common Stock at an exercise price of $0.0001 per share. After giving effect to the Automatic Conversion, the Company had 4,431,165 shares of Common Stock issued and outstanding.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SmartKem, Inc. | ||
| Dated: May 8, 2025 | By: | /s/ Barbra C. Keck |
| Barbra C. Keck | ||
| Chief Financial Officer | ||