SmartKem, Inc. (SMTK), an Emerging Growth Company listed on NASDAQ, completed a private placement financing in October 2025 under Section 4(a)(2)/Rule 506, raising capital through the issuance of Senior Secured Notes and Common Stock Purchase Warrants.
Financing Structure and Terms: The offering involved the issuance of Senior Secured Notes totaling \(1,100,000 in principal amount, based on a \)1,000,000 aggregate subscription amount (implying a 110% principal note structure). These unregistered Notes mature on April 30, 2026, or upon closing a Funding Transaction raising \(\ge\) $2,000,000.
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