At its June 23, 2026 Annual Meeting, SmartKem, Inc. stockholders approved several material corporate changes. Key approvals include increasing the authorized common stock from 300 million to 5 billion shares, granting the Board discretionary authority to effect up to two reverse stock splits, and permitting stockholders to take action by written consent. Shareholders also approved the issuance of common stock below the Nasdaq minimum price in excess of 19.99% for both the company's Equity Line of Credit and the conversion of Series A convertible preferred stock or related warrants. Additionally, the company removed two-thirds supermajority consent requirements for certain matters. SmartKem operates in the chemical industry, developing advanced battery materials.
