Smartkem Signs LOI to Acquire 100% of Carbonium Core Shares
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 02 2026
0mins
Smartkem announced that it has entered into a non-binding letter of intent to acquire 100% of the outstanding shares of Carbonium Core. In connection with this transaction, Smartkem has mutually agreed to terminate its previously announced LOI with Jericho Energy Ventures, with no penalties or disputes arising from the termination. The Company views this transaction as a strategic progression aligned with its long-term materials roadmap. Under the terms of the LOI, Smartkem intends to acquire all outstanding shares of Carbonium Core, Inc. in exchange for shares of Smartkem Series B Convertible Preferred Stock, subject to the execution of definitive agreements, completion of due diligence, and customary closing conditions. The LOI includes a customary exclusivity period and is non-binding with respect to the consummation of the proposed transaction.
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About SMTK
SmartKem, Inc. provides disruptive organic thin-film transistors, which have the potential to drive the displays. The Company’s patented TRUFLEX semiconductor and dielectric inks, or electronic polymers, are used to make transistors. Its inks enable low temperature printing processes, which are compatible with existing manufacturing infrastructure to deliver displays. Its semiconductor platform is used in various display technologies, including micro-light-emitting diode (MicroLED), LCD and AMOLED, as well as in applications in advanced computer and artificial intelligence (AI) chip packaging, sensors, and logic. The Company designs and develops its materials at its research and development facility in Manchester, the United Kingdom and provides prototyping services at the Centre for Process Innovation (CPI) in Sedgefield, the United Kingdom. The Company has an intellectual property portfolio, including 140 granted patents across 17 patent families and 40 codified trade secrets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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