{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-032112","form_type":"8-K","ticker":"SMTK","cik":"0001817760","company_name":"SmartKem, Inc.","filed_at":"2026-03-19T23:59:59+00:00","discovered_at":"2026-05-14T18:02:36.290971+00:00","generated_at":"2026-05-15T09:40:01.066958+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"SmartKem issues $3.75M senior secured notes at 30% discount; settles prior noteholder disputes","bullets":["Issued $3.75M senior secured notes (30% OID) for $2.625M; zero interest unless default then 14% p.a.; 6-month maturity.","Notes secured by first-priority lien on all company assets, including IP; subsidiary guarantees.","Settled prior noteholder claims: company repays outstanding principal and pays $300K cash settlement.","Company assigns certain patents to Smartkem IP LLC as part of settlement; mutual releases and termination of certain rights."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-032112","json":"https://secwatch.observer/filing/0001104659-26-032112.json","markdown":"https://secwatch.observer/filing/0001104659-26-032112.md","text":"https://secwatch.observer/filing/0001104659-26-032112.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1817760/000110465926032112/0001104659-26-032112-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1817760/000110465926032112/tm269203d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T09:40:01.066958+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"4fe2c12af581b49be2f350424336e61851cf2a05","claim":"SmartKem, Inc. incurred senior notes of $3,750,000 with certain accredited investors at 14% per annum maturing six month anniversary of the original issuance date.","evidence_excerpt":"the Company agreed to issue and sell to the Buyers senior secured promissory notes (the \"Notes\") in the aggregate original principal amount of $3,750,000","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1817760/000110465926032112/0001104659-26-032112-index.htm","confidence":0.95},{"claim_id":"160bf8d2ed3a948040df9e17dc1b9dd024a7d489","claim":"SmartKem, Inc. entered into Intellectual Property Assignment Agreement with Smartkem Ltd (Assignor) and Smartkem IP LLC (Assignee) (effective 2026-03-18).","evidence_excerpt":"In furtherance thereof, the Company and its subsidiary, Smartkem Ltd, a corporation organized under English law (the \"Assignor\"), entered into an Intellectual Property Assignment Agreement (the \"IP Assignment Agreement\") with Smartkem IP LLC (the \"Assignee\"), pursuant to which the Assignor irrevocably conveyed, transferred, and assigned to the Assignee certain of the Assignor's right, title, and interest in and to certain patents, patent applications, and related intellectual property rights, together with all royalties, fees, income, and proceeds related thereto, and all claims and causes of action with respect thereto.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1817760/000110465926032112/0001104659-26-032112-index.htm","confidence":0.9},{"claim_id":"514a06eb21e14a9ea9fd1de98021bf6772e63574","claim":"SmartKem, Inc. entered into Securities Purchase Agreement with certain accredited investors valued at $3,750,000 (effective 2026-03-18).","evidence_excerpt":"On March 18, 2026, SmartKem, Inc. (the “Company”) entered into a Securities Purchase Agreement (the \"Purchase Agreement\") with certain accredited investors (the \"Buyers\"), pursuant to which the Company agreed to issue and sell to the Buyers senior secured promissory notes (the \"Notes\") in the aggregate original principal amount of $3,750,000 for an aggregate purchase price of $2,625,000, reflecting an original issue discount of approximately 30%.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1817760/000110465926032112/0001104659-26-032112-index.htm","confidence":0.9},{"claim_id":"534e364183d73c1693c8e4174c9d32bebdbd159c","claim":"SmartKem, Inc. entered into Waiver and Termination Agreements with the Holders (effective 2026-03-18).","evidence_excerpt":"In connection with the Settlement Agreements, the Company and the Holders entered into Waiver and Termination Agreements (the \"Waiver and Termination Agreements\") with respect to the Prior Purchase Agreement.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1817760/000110465926032112/0001104659-26-032112-index.htm","confidence":0.7},{"claim_id":"88879a0b55240e3d9a7b8d7029584a4d7eadf98c","claim":"SmartKem, Inc. entered into Settlement Agreements with certain holders (collectively, the 'Holders') of those certain Senior Secured Notes valued at $300,000 (effective 2026-03-18).","evidence_excerpt":"Pursuant to the Settlement Agreements, the Company agreed to (i) repay each Holder the outstanding principal amount of its respective Prior Note in full within two (2) business days following the effective date of the Settlement Agreements, and (ii) pay to the Holders an aggregate cash settlement payment of $300,000 by wire transfer of immediately available funds.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1817760/000110465926032112/0001104659-26-032112-index.htm","confidence":0.9}],"comparable_filings":[{"accession":"0001628280-26-039479","ticker":"VVX","company_name":"V2X, Inc.","filed_at":"2026-06-01T20:10:20+00:00","headline":"V2X refinances $868.5M term loans with new tranche maturing 2030; SOFR+2% margin","event_type":"debt","sec_items":["1.01","2.03","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-26-039479","json":"https://secwatch.observer/filing/0001628280-26-039479.json","markdown":"https://secwatch.observer/filing/0001628280-26-039479.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1601548/000162828026039479/0001628280-26-039479-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1601548/000162828026039479/vec-20260529.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"the Company agreed to issue and sell to the Buyers senior secured promissory notes (the \"Notes\") in the aggregate original principal amount of $3,750,000","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1817760/000110465926032112/0001104659-26-032112-index.htm","comparable_excerpt":"The Amendment provides for, among other things, a new tranche of term loans under the Credit Agreement in an aggregate original principal amount of $868,522,978.38 (the “New Term Loans”), which New Term Loans replace or refinance in full all of the existing term loans outstanding under the Credit Agreement (as in effect immediately prior to the Amendment), as further set forth in the Amendment. The New Term Loans mature on December 6, 2030.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1601548/000162828026039479/0001628280-26-039479-index.htm"}},{"accession":"0001213900-26-054183","ticker":"EMAT","company_name":"Evolution Metals & Technologies Corp.","filed_at":"2026-05-11T23:59:59+00:00","headline":"EMAT secures $100M convertible debenture facility from Yorkville; first $20M tranche issued","event_type":"debt","sec_items":["1.01","2.03","3.02","7.01","9.01"],"materiality_score":0.7,"calibrated_materiality_score":0.7,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-054183","json":"https://secwatch.observer/filing/0001213900-26-054183.json","markdown":"https://secwatch.observer/filing/0001213900-26-054183.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1866226/000121390026054183/0001213900-26-054183-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1866226/000121390026054183/ea0290073-8k_evolution.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"the Company agreed to issue and sell to the Buyers senior secured promissory notes (the \"Notes\") in the aggregate original principal amount of $3,750,000","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1817760/000110465926032112/0001104659-26-032112-index.htm","comparable_excerpt":"The first Convertible Debenture (the “First Debenture”) in the principal amount of $20,000,000 was issued on May 7, 2026.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1866226/000121390026054183/0001213900-26-054183-index.htm"}},{"accession":"0000008947-26-000108","ticker":"AZZ","company_name":"AZZ INC","filed_at":"2026-05-08T23:59:59+00:00","headline":"AZZ refinances revolver; maturity extended to 2029, margins cut 50 bps","event_type":"debt","sec_items":["1.01","2.03","9.01"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0000008947-26-000108","json":"https://secwatch.observer/filing/0000008947-26-000108.json","markdown":"https://secwatch.observer/filing/0000008947-26-000108.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/8947/000000894726000108/0000008947-26-000108-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/8947/000000894726000108/azz-20260507.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"the Company agreed to issue and sell to the Buyers senior secured promissory notes (the \"Notes\") in the aggregate original principal amount of $3,750,000","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1817760/000110465926032112/0001104659-26-032112-index.htm","comparable_excerpt":"The Seventh Amendment (i) terminated the Initial Revolving Credit Commitments and simultaneously replaced them in their entirety with Extended Revolving Credit Commitments having a Maturity Date of May 7, 2029, (ii) decreased the interest rate margin applicable to the Revolving Credit Loans from margins ranging from 175 basis points to 275 basis points (subject to leverage ratio step-downs) to margins ranging from 125 basis points to 225 basis points (subject to leverage ratio step-downs)","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/8947/000000894726000108/0000008947-26-000108-index.htm"}},{"accession":"0001104659-26-057953","ticker":"ILPT","company_name":"Industrial Logistics Properties Trust","filed_at":"2026-05-08T23:59:59+00:00","headline":"ILPT Mountain JV closes $1.62B loan at 5.71% fixed, repays $1.6B existing debt","event_type":"debt","sec_items":["1.01","1.02","2.03","9.01"],"materiality_score":0.7,"calibrated_materiality_score":0.7,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-057953","json":"https://secwatch.observer/filing/0001104659-26-057953.json","markdown":"https://secwatch.observer/filing/0001104659-26-057953.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1717307/000110465926057953/0001104659-26-057953-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1717307/000110465926057953/tm2613865d1_8k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"the Company agreed to issue and sell to the Buyers senior secured promissory notes (the \"Notes\") in the aggregate original principal amount of $3,750,000","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1817760/000110465926032112/0001104659-26-032112-index.htm","comparable_excerpt":"Stanley Bank, N.A., Bank of America, N.A., Bank of Montreal and UBS AG New York Branch, or collectively,\nthe lenders, pursuant to which Mountain JV obtained, in aggregate, a $1.62 billion loan secured\nby 90 of its properties, or the Loan . Also on May 8, 2026, we entered into a guaranty in favor of the lenders, pursuant to which\nwe guaranteed certain limited","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1717307/000110465926057953/0001104659-26-057953-index.htm"}},{"accession":"0001213900-26-053894","ticker":"TBH","company_name":"Brag House Holdings, Inc.","filed_at":"2026-05-08T23:59:59+00:00","headline":"Brag House issues $2.5M convertible notes at 25% OID; proceeds for House of Doge merger","event_type":"debt","sec_items":["1.01","2.03","3.02","9.01"],"materiality_score":0.75,"calibrated_materiality_score":0.75,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-053894","json":"https://secwatch.observer/filing/0001213900-26-053894.json","markdown":"https://secwatch.observer/filing/0001213900-26-053894.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1903595/000121390026053894/0001213900-26-053894-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1903595/000121390026053894/ea0289773-8k_braghouse.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"the Company agreed to issue and sell to the Buyers senior secured promissory notes (the \"Notes\") in the aggregate original principal amount of $3,750,000","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1817760/000110465926032112/0001104659-26-032112-index.htm","comparable_excerpt":"The issuance of the Notes in the aggregate original principal amount of $2,500,000 constitutes the creation of a direct financial obligation of the Company. The Notes bear interest at 12.0% per annum, mature on February 4, 2027","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1903595/000121390026053894/0001213900-26-053894-index.htm"}},{"accession":"0001492691-26-000042","ticker":"KNX","company_name":"Knight-Swift Transportation Holdings Inc.","filed_at":"2026-05-08T23:59:59+00:00","headline":"Knight-Swift closes $1.5B convertible note offering at 1.00% due 2031; proceeds used to repay term loans and revolver","event_type":"debt","sec_items":["1.01","2.03","3.02","8.01","9.01"],"materiality_score":0.75,"calibrated_materiality_score":0.75,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001492691-26-000042","json":"https://secwatch.observer/filing/0001492691-26-000042.json","markdown":"https://secwatch.observer/filing/0001492691-26-000042.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1492691/000149269126000042/0001492691-26-000042-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1492691/000149269126000042/knx-20260505.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"the Company agreed to issue and sell to the Buyers senior secured promissory notes (the \"Notes\") in the aggregate original principal amount of $3,750,000","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1817760/000110465926032112/0001104659-26-032112-index.htm","comparable_excerpt":"On May 8, 2026, Knight-Swift Transportation Holdings Inc. (the \"Company\") completed its previously announced private offering (the \"Offering\") of $1.5 billion aggregate principal amount of 1.00% Convertible Senior Notes due 2031","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1492691/000149269126000042/0001492691-26-000042-index.htm"}},{"accession":"0001104659-26-057128","ticker":"PUMP","company_name":"ProPetro Holding Corp.","filed_at":"2026-05-07T23:59:59+00:00","headline":"ProPetro issues $690M zero-coupon convertible notes due 2031, expands credit facility","event_type":"debt","sec_items":["1.01","2.03","3.02","8.01","9.01"],"materiality_score":0.8,"calibrated_materiality_score":0.8,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-057128","json":"https://secwatch.observer/filing/0001104659-26-057128.json","markdown":"https://secwatch.observer/filing/0001104659-26-057128.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1680247/000110465926057128/0001104659-26-057128-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1680247/000110465926057128/tm2613899d1_8k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"the Company agreed to issue and sell to the Buyers senior secured promissory notes (the \"Notes\") in the aggregate original principal amount of $3,750,000","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1817760/000110465926032112/0001104659-26-032112-index.htm","comparable_excerpt":"On May 7, 2026, ProPetro Holding Corp. (the “ Company ”), issued $690 million aggregate principal amount of its 0.00% Convertible Senior Notes due 2031","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1680247/000110465926057128/0001104659-26-057128-index.htm"}},{"accession":"0001104659-26-057138","ticker":"OCGN","company_name":"Ocugen, Inc.","filed_at":"2026-05-07T23:59:59+00:00","headline":"Ocugen completes $115M convertible note offering at 6.75%, repays Avenue loan","event_type":"debt","sec_items":["1.01","1.02","2.02","2.03","3.02","9.01"],"materiality_score":0.75,"calibrated_materiality_score":0.75,"match_reasons":["same fact type: debt_financing, material_agreement","same SEC item: 1.01, 2.03, 9.01","same event type: debt","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-057138","json":"https://secwatch.observer/filing/0001104659-26-057138.json","markdown":"https://secwatch.observer/filing/0001104659-26-057138.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1372299/000110465926057138/0001104659-26-057138-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1372299/000110465926057138/tm2613898d1_8k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"the Company agreed to issue and sell to the Buyers senior secured promissory notes (the \"Notes\") in the aggregate original principal amount of $3,750,000","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1817760/000110465926032112/0001104659-26-032112-index.htm","comparable_excerpt":"On May 7, 2026, Ocugen, Inc. (the “Company”) completed its previously announced private offering (the “offering”) of $115.0 million aggregate principal amount of 6.75% Convertible Senior Notes due 2034 (the “notes”).","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1372299/000110465926057138/0001104659-26-057138-index.htm"}}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}