SMTK$0.2969-15.49%
SmartKem, Inc.
Sector: Semiconductors & Related DevicesIndustry: SemiconductorsCountry: GBExchange: Nasdaq
Mkt Cap:$307.5K
Float & O/S:
Inst Own:
DilutionScan read 33 of SmartKem, Inc.'s SEC filings and found 12 warrant series, 3 convertibles, 1 equity line, 4 shelf registrations, 2 S-1 registrations and 11 completed offerings on file for SMTK. The latest dilution event on file is a registration statement on Sep 18, 2026. Analysis updated Sep 29, 2026.
Signal8 Summary
SMTK
Going-concern warning, near-insolvent micro-cap
Snapshot
SmartKem is a tiny materials-science developer, now a near-insolvent shell pivoting toward a mining merger. FY 2025 revenue was just $697K against a $10.5M net loss, and the company burned $7.9M in free cash flow with only $3.7M in cash left.
What's Happening Right Now
- : SmartKem filed an S-1 letting Keystone Capital Partners buy up to $500 million of stock at the company's discretion, registering 30 million new shares against just over 1 million shares outstanding.
- : Registered 30.00M shares for sale on Form S-1.
- : Registered 15.13M shares for sale on Form S-3.
- : SmartKem's Chief Operating Officer resigned at the end of August 2026 with no successor named.
- : SmartKem's 10-Q disclosed going-concern doubt, a $22.6M first-half net loss, and that its UK operating subsidiary entered liquidation, with dilutive securities now exceeding shares outstanding.
- : SmartKem executed a 1-for-50 reverse stock split to regain compliance with Nasdaq's minimum bid price rule.
- : SmartKem agreed to an all-stock merger with Ferrox Critical Minerals valued at roughly $125 million, pivoting the company toward critical minerals mining.
- : Raised $2.00M in gross proceeds through a private placement (PIPE), with warrants over 108K shares.
