<SEC-DOCUMENT>0001104659-21-027373.txt : 20210224
<SEC-HEADER>0001104659-21-027373.hdr.sgml : 20210224
<ACCEPTANCE-DATETIME>20210224135726
ACCESSION NUMBER:		0001104659-21-027373
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210223
FILED AS OF DATE:		20210224
DATE AS OF CHANGE:		20210224

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			King Simon P.
		CENTRAL INDEX KEY:			0001845759

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-56181
		FILM NUMBER:		21671272

	MAIL ADDRESS:	
		STREET 1:		C/O SMARTKEM, INC.
		STREET 2:		HEXAGON TOWER, DELAUNAYS ROAD, BLACKLEY
		CITY:			MANCHESTER
		STATE:			X0
		ZIP:			M9 8GQ

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SmartKem, Inc.
		CENTRAL INDEX KEY:			0001817760
		STANDARD INDUSTRIAL CLASSIFICATION:	BLANK CHECKS [6770]
		IRS NUMBER:				851083654
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		MANCHESTER TECHNOLOGY CENTER
		STREET 2:		HEXAGON TOWER, DELAUNAYS ROAD, BLACKLEY
		CITY:			MANCHESTER
		STATE:			X0
		ZIP:			M9 8GQ
		BUSINESS PHONE:		011-44-161-721-1514

	MAIL ADDRESS:	
		STREET 1:		MANCHESTER TECHNOLOGY CENTER
		STREET 2:		HEXAGON TOWER, DELAUNAYS ROAD, BLACKLEY
		CITY:			MANCHESTER
		STATE:			X0
		ZIP:			M9 8GQ

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Parasol Investments Corp
		DATE OF NAME CHANGE:	20200710
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>tm217317d13_4.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2021-02-23</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001817760</issuerCik>
        <issuerName>SmartKem, Inc.</issuerName>
        <issuerTradingSymbol>NONE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001845759</rptOwnerCik>
            <rptOwnerName>King Simon P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>HEXAGON TOWER</rptOwnerStreet1>
            <rptOwnerStreet2>DELAUNAYS ROAD, BLACKLEY</rptOwnerStreet2>
            <rptOwnerCity>MANCHESTER</rptOwnerCity>
            <rptOwnerState>X0</rptOwnerState>
            <rptOwnerZipCode>M9 8GQ</rptOwnerZipCode>
            <rptOwnerStateDescription>UNITED KINGDOM</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-02-23</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>6429932</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6429932</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Octopus Titan VCT Plc</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-02-23</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>46096</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>46096</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Octopus Investments Nominees Limited</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">In connection with a share exchange transaction with SmartKem Limited that occurred on February 23, 2021, Octopus Titan VCT Plc and Octopus Investments Nominees Limited exchanged all of their SmartKem Limited shares for 6,429,932 and 46,096 shares of common stock, respectively, of Parasol Investments Corporation, now known as SmartKem, Inc.</footnote>
        <footnote id="F2">Reporting person is a partner of Octopus Investments Limited, which is the manager of Octopus Titan VCT Plc. Through his position with Octopus Investments Limited, the reporting person is deemed to control the voting and disposition of the shares of the common stock held by the Octopus Titan VCT Plc. The reporting person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that the reporting person, Octopus Titan VCT Plc or any other person is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.</footnote>
        <footnote id="F3">Reporting person is a partner of Octopus Investments Limited, which is the manager of Octopus Investments Nominees Limited. Through his position with Octopus Investments Limited, the reporting person is deemed to control the voting and disposition of the shares of the common stock held by the Octopus Investments Nominees Limited. The reporting person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that the reporting person, Octopus Investments Nominees Limited or any other person is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Robert Bahns, attorney-in-fact for Simon P. King</signatureName>
        <signatureDate>2021-02-24</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
