SmartKem, Inc. Files 8-K for Material Definitive Agreement

TL;DR

SmartKem signed a big deal, filing an 8-K on Dec 2nd.

AI Summary

SmartKem, Inc. announced on December 2, 2024, the entry into a material definitive agreement. The filing also includes other events and financial statements and exhibits. The company is incorporated in Delaware and its principal executive offices are located in Manchester, UK.

Why It Matters

This 8-K filing indicates a significant new agreement for SmartKem, Inc., which could impact its business operations and financial standing.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that are not yet fully understood.

Key Players & Entities

• SmartKem, Inc. (company) — Registrant
• December 2, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• Manchester, UK (location) — Address of principal executive offices

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 per share SMTK The Nasdaq Stock Mar

Filing Documents

• tm2430186d1_8k.htm (8-K) — 28KB
• tm2430186d1_ex10-1.htm (EX-10.1) — 132KB
• tm2430186d1_ex99-1.htm (EX-99.1) — 14KB
• tm2430186d1_ex99-1img001.jpg (GRAPHIC) — 5KB
• 0001104659-24-125766.txt ( ) — 387KB
• tmb-20241202.xsd (EX-101.SCH) — 3KB
• tmb-20241202_lab.xml (EX-101.LAB) — 33KB
• tmb-20241202_pre.xml (EX-101.PRE) — 22KB
• tm2430186d1_8k_htm.xml (XML) — 4KB

01

Item 1.01 Entry into a Material Definitive Agreement. On December 2, 2024, SmartKem Limited ("SmartKem"), a wholly owned subsidiary of SmartKem, Inc. (the "Company"), entered into a collaboration agreement (the "Collaboration Agreement") with Flexible Integrated Circuits, SL, a company providing innovation in the design of flexible integrated circuits and systems ("FlexiIC" and together with SmartKem, the "Parties"). Pursuant to the Collaboration Agreement, beginning on the date of the approval of the application for the Aid (as defined in the Collaboration Agreement) by the Centro para el Desarrollo Tecnologico y la Innovacion E.P.E ("CDTI"), the Parties have agreed to co-develop a new generation of CMOS smart sensors. The Collaboration Agreement includes customary representations, warranties, intellectual property and confidentiality provisions. The Collaboration Agreement will terminate for any of the following causes: (i) completion of the Project (as defined in the Collaboration Agreement), (ii) by unanimous agreement of the Parties, or (iii) in the event that the application for Aid to the CDTI is not approved. The Collaboration Agreement is attached as Exhibit 10.1 hereto. The description of the terms of the Collaboration Agreement is not intended to be complete and is qualified in its entirety by reference to such exhibit.

01

Item 8.01 Other Events On December 5, 2024, the Company issued a press release announcing the entering into of the Collaboration Agreement. A copy of the press release is filed as Exhibit 99.1 hereto and is incorporated by reference herein.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) The following exhibit is furnished with this report: Exhibit No. Description 10.1* Collaboration Agreement, dated December 2, 2024, by and between SmartKem Limited and FlexiIC 99.1 Press Release, dated December 5, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * The Company has omitted portions of the referenced exhibit pursuant to Item 601(b) of Regulation S-K because it (a) is not material and (b) is the type that the Company treats as private or confidential. Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SMARTKEM, INC. Dated: December 5, 2024 By: /s/ Barbra C. Keck Barbra C. Keck Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR