SmartKem, Inc. - SMTK STOCK NEWS

Smartkem (SMTK) has announced pricing for concurrent public and private offerings totaling $7.65 million. The offerings include:

1. Public offering: 1,449,997 registered common shares and unregistered Class D warrants at $3.00 per share/warrant pair

2. Private placement: 169,784 unregistered shares, 930,215 pre-funded warrants, and 1,099,999 Class D warrants at similar pricing

The Class D warrants will be exercisable at $3.00 per share until December 31, 2025, while pre-funded warrants have a $0.0001 exercise price. Craig-Hallum Capital Group is acting as exclusive placement agent, with closing expected on December 20, 2024. Proceeds will be used for working capital and general corporate purposes.

Smartkem (NASDAQ: SMTK) has signed a multi-year agreement with FlexiIC to develop a new generation of CMOS for smart sensors. The two-year project aims to develop custom circuitry using Smartkem's organic thin-film transistor (OTFT) technology and n-type oxide TFT to create low-power CMOS enabled sensor devices.

The devices will incorporate mixed signal and digital IPs, including RISC-V cores, and utilize machine learning for improved signal processing. The technology targets the internet-of-things (IOT) market, which is projected to reach $4,062.34 billion by 2032, growing at a CAGR of 24.3% from 2024. The project's commencement depends on grant funding approval from the Centro para el Desarrollo Tecnológico Industrial (CDTI).

Smartkem (NASDAQ: SMTK) has partnered with AUO, Taiwan's largest display manufacturer, to develop the world's first rollable, transparent microLED display using Smartkem's organic thin-film transistors (OTFTs). The collaboration, starting January 1, 2025, aims to revolutionize microLED display production through Smartkem's low-temperature processing technology, which enables direct application on microLEDs and eliminates the need for mass transfer and laser welding. This 'Chip-First' architecture could potentially reduce microLED TV prices from $100,000 to mass market levels. The project has received funding from the 2024 Taiwan-UK Research & Development Collaboration.

Smartkem (SMTK) reports Q3 2024 financial results, highlighting progress in commercializing its organic thin-film transistors for microLED displays. The company signed a joint development agreement with Chip Foundation for microLED-based backlight technology and expanded collaboration with ITRI. Financial results show cash and equivalents at $1.8 million (down from $8.8 million in December 2023), operating expenses of $3.0 million (up from $2.7 million in Q3 2023), and no revenue compared to $3,000 in Q3 2023. The company targets the microLED display industry, projected to grow from $150 million in 2024 to over $4 billion by 2031.

Smartkem (Nasdaq: SMTK), a company developing organic thin-film transistors (OTFTs), will present at the 6th National Conference on Organic Field-Effect Transistors in Hangzhou, China on November 9th, 2024. Dr. Simon Ogier, Chief Technology Officer, will deliver a presentation titled 'OTFT materials for emissive displays and low temperature logic circuitry on plastic substrates' at 13:30 local time.

The conference, hosted by Beihang University and the Institute of Chemistry, Chinese Academy of Sciences (ICCAS), with co-organization by Fudan University, will focus on Organic Field-Effect Transistors and Flexible Printed Optoelectronic Materials and Devices.

Smartkem, Inc. (NASDAQ: SMTK), a company developing organic thin-film transistors (OTFTs) for next-generation displays, has announced its participation in the TechBlick: The Future of Electronics Reshaped conference in Berlin, Germany. The event will take place on October 23rd and 24th, 2024, at the Estrel Berlin Hotel and Convention Center.

Smartkem will be exhibiting at booth F01, with Senior Formulation Scientist Jordan Brannick available for one-on-one meetings throughout the exhibition. This global conference provides an opportunity for Smartkem to showcase its disruptive OTFT technology to industry professionals and potential partners.

Smartkem (Nasdaq: SMTK) has entered a joint development agreement with Shanghai Chip Foundation Semiconductor Technology Co., to co-develop a new generation of microLED-based backlight technology for Liquid Crystal Displays. Smartkem will supply its proprietary organic dielectric single layer material (Redistribution Layer) to Chip Foundation to combine with its microLED devices.

The project aims to develop high brightness, high current efficiency miniLED packages containing four microLEDs wired in series, potentially reducing power losses in driving backlights and improving illumination uniformity. This collaboration follows Smartkem's recent technology agreement with ITRI in Taiwan, furthering its commercialization strategy in the display industry.

Smartkem (Nasdaq: SMTK), a company developing organic thin-film transistors (OTFTs) for next-generation displays, will present and exhibit at MicroLED Connect 2024 in Eindhoven, The Netherlands, from September 25-26, 2024. Dr. Simon Ogier, Smartkem's Chief Technology Officer, will deliver a presentation titled 'Chip-First Active-Matrix Fabrication Approach For Effective Connection of TFT Backplanes to MicroLEDs' on September 26th at 14:20 Central Time.

The presentation will introduce a chip-first strategy for microLED display development using Smartkem's proprietary OTFT technology. The company will also exhibit at Booth No.25, where Dr. Ogier will be available for one-on-one meetings throughout the conference.

Smartkem (Nasdaq: SMTK), a company developing organic thin-film transistors (OTFTs) for next-generation displays, has announced its participation in two major industry events. The company will deliver a keynote presentation at the PlayNitride 2024 MicroLED Technology Forum on September 3rd, 2024, in Taipei. CEO Ian Jenks will discuss a chip-first strategy using Smartkem's TRUFLEX® technology for microLED displays.

Additionally, Smartkem will exhibit at SEMICON® Taiwan 2024 from September 4th to 6th, 2024. The company will showcase its dielectric material for Redistribution Layer (RDL) applications at the UK Pavilion booth. This participation is part of a Taiwan-UK Research & Development Collaboration. Jenks will also participate in several focus sessions during the event, discussing equipment, testing, manufacturing, and materials.