Smartkem approves 1-for-50 reverse stock split to meet Nasdaq rules

Smartkem, Inc. (Nasdaq: SMTK) announced that its board of directors has approved a 1-for-50 reverse stock split of its common stock, following shareholder authorization at the company's annual meeting on June 23, 2026.

The reverse split became effective August 20, 2026, at 5:00 p.m. Eastern Time, with shares beginning to trade on a split-adjusted basis on the Nasdaq Capital Market on August 21, 2026, under the existing ticker symbol SMTK.

The company stated the action is intended to raise the per-share trading price of its common stock to meet Nasdaq's minimum bid price requirement for continued listing on the Nasdaq Capital Market.

Under the terms of the split, every 50 shares of Smartkem common stock will be automatically combined into one share. The total number of authorized shares will remain unchanged, while the number of outstanding shares will be reduced proportionally. Fractional shares will not be issued; instead, shareholders entitled to fractional shares will receive rounding up to the nearest whole share.

The reverse split applies uniformly to all shareholders and will not alter proportional ownership interests, except for adjustments related to fractional shares. Outstanding equity awards, warrants, and other equity-based securities will be adjusted proportionately, along with applicable exercise or conversion prices.

Equiniti is serving as the exchange agent for the transaction. Shareholders holding shares in book-entry or electronic form are not required to take any action. Shareholders holding certificated shares will receive instructions from Equiniti regarding certificate exchanges.

Separately, Smartkem announced on August 3, 2026, that it had entered into a definitive business combination agreement with Ferrox Critical Minerals. In connection with that proposed transaction, Smartkem intends to file a Registration Statement on Form S-4 with the Securities and Exchange Commission.

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