SmartKem Inc. announced that it has entered into a securities purchase agreement with an institutional investor, under which the company will issue 677,129 shares of its common stock at $0.50 per share and 683,871 pre-funded warrants to purchase common stock at $0.4999 per warrant, with an exercise price of $0.0001 per share. The pre-funded warrants are immediately exercisable, subject to a beneficial ownership limitation of 9.99%. The offering was made pursuant to the company’s effective shelf registration statement.
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