SmartKem, Inc. — Director's Dealing 2023

Jun 24, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SmartKem, Inc. (SMTK)
CIK: 0001817760
Period of Report: 2023-06-22

Reporting Person: de Boer Klaas (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-06-22	Series A-2 Convertible Preferred Stock	$0.25	P	50	Acquired		Common Stock (200000)	Indirect
2023-06-22	Common Stock Warrants (right to buy)	$0.25	P	200000	Acquired		Common Stock (200000)	Indirect

Footnotes

F1: The Issuer issued its Series A-2 Convertible Preferred Stock (the "Preferred Stock"), at a stated value equal to $1,000 per share. Pursuant to the terms of the Preferred Stock, each share of Preferred Stock is convertible into shares of the Issuer's common stock, par value $0.0001 per share ("Common Stock"), at the election of the holder, at any time following the original issue date at a price of $0.25 per share, subject to price-based anti-dilution adjustments which, if triggered, would result in additional shares of Common Stock being issued upon conversion of the Preferred Stock. The Preferred Stock does not have an expiration date.

F2: The purchase was made in a private transaction with the Issuer that closed on June 22, 2023.

F3: The warrants were included together with the purchase of the Preferred Stock. Each warrant entitles the holder thereof to purchase one share of Common Stock at an exercise price of $0.25 per share, subject to adjustment. The warrants are currently exercisable and will expire on June 22, 2028.