Feb 06, 2026 (MarketLine via COMTEX) --
Smartkem entered a debt conversion agreement that satisfied certain outstanding accounts payable by issuing equity securities.
Smartkem, Inc. (Nasdaq: SMTK), ("Smartkem" or the "Company"), a leader in advanced materials, today announced that it has entered into a debt conversion agreement, pursuant to which certain outstanding accounts payable of Smartkem were satisfied in full through the issuance of equity securities of the Company.
Under the terms of the agreement, approximately $2.0 million of outstanding obligations owed were converted into a combination of shares of the Company's common stock and pre-funded warrants at an implied conversion price of $2.75 per share. Upon issuance of the securities, the obligations were fully discharged.
The transaction resulted in a significant reduction of the Company's accounts payable, with no cash consideration paid. The Company believes the transaction strengthens its balance sheet by removing this obligation and is expected to result in a meaningful reduction in ongoing cash requirements.
The securities were issued in a private transaction exempt from registration under the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof. The securities have not been registered and may not be offered or sold absent registration or an applicable exemption.
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COMTEX_474447947/2227/2026-03-01T07:31:14
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