SmartKem, Inc., a company seeking to reshape the world of electronics with a revolutionary semiconductor platform that enables a new generation of displays, sensors and logic, announced that it has consummated the sale of 1.0 million shares of its common stock to venture capital firm and current investor, Octopus Ventures, at a price of $2.00 per share for total proceeds of $2.0 million.
SmartKem intends to use the net proceeds from the sale of the common stock for working capital and general corporate purposes.
The securities offered will not be or have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About SmartKem
SmartKem is seeking to reshape the world of electronics with a revolutionary semiconductor platform that enables a new generation of displays, sensors and logic. SmartKem’s patented TRUFLEX® inks are solution deposited at a low temperature, on low-cost substrates to make organic thin-film transistor (OTFT) circuits. The company’s semiconductor platform can be used in a number of applications including mini-LED displays, AMOLED displays, fingerprint sensors and integrated logic circuits. SmartKem develops its materials at its research and development facility in Manchester, UK, and its semiconductor manufacturing process at the Centre of Process Innovation (CPI) at Sedgefield, UK. The company has an extensive IP portfolio including approximately 120 issued patents.
