IPO - SmartKem, Inc.

Form Type: S-1

Filing Date: 2025-04-08

Corporate Action: Ipo

Type: New

Accession Number: 000110465925033015

Filing Summary: SmartKem, Inc. is filing this Form S-1 registration statement with the SEC to register 6,402,818 shares of its common stock for sale by selling stockholders. This includes shares issued in a private placement that closed on December 20, 2024, along with shares from pre-funded warrants and various other warrants, including those related to the Series A-1 Convertible Preferred Stock. The offering aims to provide these stockholders with liquidity and is not expected to generate proceeds for the company itself. SmartKem, Inc. is classified as a 'smaller reporting company' and an 'emerging growth company,' benefiting from reduced reporting requirements under the JOBS Act. The company has developed advanced semiconductor materials, specifically TRUFLEX® polymers, aimed at revolutionizing the display industry by being compatible with existing manufacturing processes for cheaper, high-performance displays. The last sale price for their stock was reported at $2.33 per share. The registration is part of the registration rights agreement initiated due to previous transactions and the company is obligated to keep the registration statement effective until all shares are sold or can be sold under Rule 144.

Document Link: View Document