2023-06-23 10:36:49 ET
- SmartKem ( OTC:SMTK ) said on Friday that in the final closing of its previously announced private placement, it had collected proceeds of ~$2M.
- SMTK sold 1,870.36596 shares of its Series A-1 Convertible Preferred Stock, stated value $1,000 per share, 100 shares of its Series A-2 Convertible Preferred Stock, stated value $1,000 per share, and Class A Warrants to purchase up to 7.9M shares of its common stock.
- The company said its private placement was now complete, with SMTK having received total proceeds of ~$14.2M.
- SMTK intends to use the proceeds from the private placement for working capital and general corporate purposes.
- Press Release
For further details see:
SmartKem receives proceeds of $2M in final closing of private placement