Here are the S-1 registration statements from SmartKem, Inc. (SMTK) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
An S-1 covers the registration statement a company files to sell shares publicly, so if you follow SMTK and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SMTK filings page.
SmartKem, Inc. (SMTK) has filed a Form S-1 registering for resale up to 30,000,000 shares of common stock that may be issued to Keystone Capital Partners, LLC under a committed equity financing agreement with a total purchase commitment of up to $500 million, at SmartKem’s discretion and subject to limits, including a 4.99% beneficial ownership cap.
SmartKem will not receive proceeds from Keystone’s resale of the shares, but may receive cash from its own sales of stock to Keystone, which it intends to use for general corporate purposes and working capital. Common shares outstanding were 1,035,799 as of September 18, 2026, and would be 31,035,799 if all registered shares are issued, implying substantial potential dilution.
Recent developments include a 1-for-50 reverse stock split effective August 20, 2026, a proposed all-stock acquisition of Ferrox Critical Minerals, Ltd. valued at approximately $125 million, bridge loans to Ferrox totaling several million dollars, significant Series A preferred stock and warrant financings, senior secured notes and settlements, and the creditors’ voluntary liquidation of its U.K. subsidiary. Auditors’ reports incorporated by reference contain going concern explanatory paragraphs.
SmartKem, Inc. is registering up to 146,776,707 shares of common stock for resale by Keystone Capital Partners under a committed equity purchase agreement.
SmartKem may sell shares to Keystone over time for up to the lesser of $500 million and 19.99% of shares outstanding on March 30, 2026, subject to Nasdaq limits and a 4.99% beneficial ownership cap. Common stock outstanding was 21,202,911 shares as of April 13, 2026, and would be 167,979,618 shares if all registered shares are issued. SmartKem will receive no proceeds from Keystone’s resales, but could receive up to $500 million in gross proceeds from primary sales to Keystone, earmarked for working capital and general corporate purposes.