SmartKem Enters Securities Purchase Agreement for Capital
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SmartKem, Inc. has entered a securities purchase agreement to issue Senior Secured Notes and Warrants to raise capital due to operational constraints and increased accounts payable. The company requires additional funds to pay vendors and resume normal operations. The latest analyst rating for SMTK stock is a Hold with a $2.00 price target, while Spark's AI Analyst rates it as Neutral, citing poor financial performance and negative cash flows. SmartKem focuses on developing organic thin-film transistors for flexible electronics, with a current market cap of $11.56M.
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