Smartkem Closes $7.65 Million Offering

Core Viewpoint - Smartkem has successfully completed concurrent public and private offerings, raising a total of $7.65 million to support its innovative organic thin-film transistors (OTFTs) aimed at transforming the electronics industry [1][5]. Group 1: Offerings Details - The company issued 1,449,997 registered shares of common stock and unregistered Class D warrants, priced at $3.00 per share, with each investor receiving one Class D warrant for each share purchased [2]. - In a separate private placement, Smartkem sold 169,784 unregistered shares of common stock and unregistered prefunded warrants to purchase up to 930,215 shares, with prices set at $3.00 per share and $2.9999 per pre-funded warrant [3]. - The Class D warrants are immediately exercisable at $3.00 per share and expire on December 31, 2025, while the pre-funded warrants are exercisable at $0.0001 per share [4]. Group 2: Use of Proceeds - The net proceeds from the offerings will be utilized for working capital and general corporate purposes [5]. Group 3: Company Background - Smartkem is focused on revolutionizing the electronics sector with its patented TRUFLEX® liquid semiconductor polymers, which can be used in next-generation display technologies, including microLED displays [10]. - The company has a robust intellectual property portfolio, consisting of 138 granted patents across 18 families, 16 pending patents, and 40 codified trade secrets [11].