SmartKem, Inc.(US:SMTK) Globenewswire·2026-02-02 13:00Core Insights - Smartkem, Inc. has announced a non-binding letter of intent to acquire 100% of Carbonium Core, Inc., a company specializing in nuclear-grade graphite for advanced reactor technologies [1][3] - The acquisition aligns with Smartkem's long-term materials roadmap and aims to enhance its advanced materials portfolio [2][4] Transaction Details - The proposed acquisition will involve Smartkem exchanging shares of Series B Convertible Preferred Stock valued at $120 million for Carbonium Core's outstanding shares [9] - The Series B Convertible Preferred Stock will be convertible into common stock at a rate of $1.00 per share, with no voting rights attached [10][11] - The transaction is expected to be completed by February 5, 2026, subject to due diligence and customary closing conditions [12] Strategic Fit - Carbonium Core's focus on producing nuclear-grade graphite domestically supports U.S. energy security and supply chain resilience [4][8] - The combination of Smartkem's materials chemistry and manufacturing capabilities with Carbonium Core's production platform aims to establish a secure supply chain for critical nuclear materials [4][8] Leadership Commentary - Smartkem's CEO emphasized the strategic importance of nuclear-grade graphite and its long-term demand drivers, highlighting the technical complexity of the market [5] - Carbonium Core's CEO noted the significance of domestic production capabilities for nuclear-grade graphite, reinforcing the potential of the partnership to enhance U.S. reactor technologies [5] Market Expansion - The acquisition is intended to expand Smartkem's reach into the nuclear-grade graphite market, which is critical for next-generation nuclear reactor technologies [8] - The transaction is seen as a logical extension of Smartkem's core competencies, providing opportunities for portfolio diversification and addressing global supply chain challenges [8]