[8-K] SmartKem, Inc. Reports Material Event

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Form Type

8-K

Rhea-AI Filing Summary

SmartKem, Inc. announced that a Nasdaq Hearings Panel has determined the company has regained compliance with the stockholders’ equity requirement under Nasdaq Listing Rule 5550(b)(2) and meets all other criteria for continued listing on The Nasdaq Capital Market.

The company still has until September 1, 2026 to regain compliance with the minimum bid price requirement in Nasdaq Listing Rule 5550(a)(2). SmartKem will also be under a one-year Discretionary Panel Monitor, meaning any new compliance failure during this period could trigger an immediate delisting determination, though the company would be able to appeal and request a new hearing.

Insights

SmartKem keeps Nasdaq listing but faces strict one-year oversight.

SmartKem has regained compliance with Nasdaq’s stockholders’ equity rule 5550(b)(2), allowing its shares to remain on The Nasdaq Capital Market. This removes an immediate delisting threat tied to equity levels, which can be important for liquidity and investor access.

However, the company must still meet the minimum bid price rule 5550(a)(2) by September 1, 2026, and it is subject to a one-year Discretionary Panel Monitor. Any new listing violation during that period could lead directly to a delisting determination by Nasdaq staff, without the usual grace period.

The ability to appeal a future delisting decision and request a new hearing provides a procedural safeguard, but it does not change the stricter oversight. Future disclosures will clarify whether SmartKem maintains full compliance throughout the monitoring period.

8-K Event Classification

2 items: 3.01, 9.01

2 items

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing Securities

The company received a delisting notice, failed to satisfy a continued-listing rule or standard, or transferred its listing.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Equity rule regained: Nasdaq Rule 5550(b)(2) Bid price deadline: September 1, 2026 Monitoring period: One year

3 metrics

Equity rule regained Nasdaq Rule 5550(b)(2) Stockholders’ equity requirement now satisfied for continued listing

Bid price deadline September 1, 2026 Grace period to regain compliance with Rule 5550(a)(2)

Monitoring period One year Discretionary Panel Monitor under Nasdaq Listing Rule 5815(d)(4)(A)

Key Terms

Nasdaq Hearings Panel, Nasdaq Listing Rule 5550(b)(2), Nasdaq Listing Rule 5550(a)(2), Discretionary Panel Monitor, +1 more

5 terms

Nasdaq Hearings Panel regulatory

"the Nasdaq Hearings Panel (the “Panel”) determined that the Company has regained compliance"

A Nasdaq hearings panel is a group of experts that reviews cases when a company's stock listing is at risk of being removed from the exchange. They evaluate whether the company has met certain standards and determine if it can keep trading on Nasdaq. This process matters to investors because it can affect a company's ability to raise money and maintain credibility in the market.

Nasdaq Listing Rule 5550(b)(2) regulatory

"regained compliance with the stockholders’ equity requirement set forth in Nasdaq Listing Rule 5550(b)(2)"

Nasdaq Listing Rule 5550(a)(2) regulatory

"regain compliance with the bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2)"

Discretionary Panel Monitor regulatory

"subject to a one-year Disretionary Panel Monitor pursuant to Nasdaq Listing Rule 5815(d)(4)(A)"

A discretionary panel monitor is a compliance mechanism—either a small oversight group or a software tool—that reviews and checks trades made at a manager’s discretion to ensure they follow investment rules, risk limits and client instructions. For investors it matters because this watchdog helps prevent unauthorized or risky decisions, reduces the chance of loss or regulatory penalties, and protects trust much like a referee or speed governor keeps a game or machine within safe limits.

Nasdaq Listing Qualifications Staff regulatory

"the Nasdaq Listing Qualifications Staff would issue a delist determination"

A team of compliance reviewers at the Nasdaq exchange that monitors whether listed companies meet the market’s ongoing rules for financial reporting, share price, corporate governance and other standards. Think of them as referees who can warn companies, require fixes, place them on a compliance watchlist, or begin delisting steps; their actions matter to investors because they affect a company’s market visibility, liquidity and perceived reliability.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did SmartKem (SMTK) announce about its Nasdaq listing status?

SmartKem reported that a Nasdaq Hearings Panel found it has regained compliance with the stockholders’ equity requirement in Nasdaq Listing Rule 5550(b)(2). The company now meets all other continued listing criteria for The Nasdaq Capital Market, removing an immediate equity-based delisting risk.

Is SmartKem (SMTK) fully compliant with all Nasdaq rules now?

SmartKem is compliant with Nasdaq’s stockholders’ equity and other continued listing criteria but still must regain compliance with the minimum bid price rule 5550(a)(2). The company has a grace period through September 1, 2026, to bring its share price back into compliance.

What is the September 1, 2026 deadline mentioned for SmartKem (SMTK)?

September 1, 2026 is the deadline for SmartKem to regain compliance with Nasdaq Listing Rule 5550(a)(2), which sets the minimum bid price requirement. If the share price does not meet this rule by that date, Nasdaq could move toward delisting based on bid price non-compliance.

What does the one-year Discretionary Panel Monitor mean for SmartKem (SMTK)?

SmartKem will be subject to a one-year Discretionary Panel Monitor under Nasdaq Listing Rule 5815(d)(4)(A). If it fails any continued listing criteria during this monitoring period, Nasdaq staff may immediately issue a delist determination without offering a compliance plan or additional grace period.

Can SmartKem (SMTK) appeal if Nasdaq moves to delist its shares?

If Nasdaq Listing Qualifications Staff issues a delist determination during the monitoring period, SmartKem can appeal by requesting a hearing before a Nasdaq Hearings Panel. Such a hearing request generally stays any suspension or delisting action while the appeal process is concluded.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/23/2026 - 08:00 AM EDT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 21, 2026

SmartKem, Inc.

(Exact name of registrant as specified in its charter)

Delaware	001-42115	85-1083654
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

Manchester Technology Center, Hexagon Tower

Delaunays Road, Blackley

Manchester, M9 8GQ U.K.

(Address of principal executive offices, including zip code)

011-44-161-721-1514

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of exchange on which registered
Common Stock, par value $0.0001 per share		SMTK		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b - 2 of the Securities Exchange Act of 1934 (§240.12b - 2 of this chapter).

Emerging growth company x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 3.01. Other Events.

On April 21, 2026, SmartKem Inc. (the “Company”) was formally notified that the Nasdaq Hearings Panel (the “Panel”) determined that the Company has regained compliance with the stockholders’ equity requirement set forth in Nasdaq Listing Rule 5550(b)(2) and has otherwise evidenced compliance with all other applicable criteria for continued listing on The Nasdaq Capital Market. The Company remains subject to a grace period, through September 1, 2026, to regain compliance with the bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2).

The Company was also notified that it will remain subject to a one-year Disretionary Panel Monitor pursuant to Nasdaq Listing Rule 5815(d)(4)(A). If the Company fails to comply with any of the applicable continued listing criteria during the one-year period the Company would not be permitted to submit a compliance plan nor would it be afforded an otherwise applicable grace period to regain compliance. Rather, the Nasdaq Listing Qualifications Staff would issue a delist determination which the Company could then appeal by requesting a hearing before a Panel. Such request would generally serve to stay any further suspension or delisting action pending the conclusion of the hearing process.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibits	Description

104	Cover Page Interactive Data File (Embedded within the Inline XBRL document)

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: April 23, 2026	By:	/s/ Barbra C. Keck
		Barbra C. Keck
		Chief Financial Officer

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

3 documents

[8-K] SmartKem, Inc. Reports Material Event

Rhea-AI Filing Summary