---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-051601"
form_type: "8-K"
ticker: "SMTK"
cik: "0001817760"
company_name: "SmartKem, Inc."
filed_at: "2026-04-29T23:59:59+00:00"
generated_at: "2026-05-15T02:22:34.473208+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# SmartKem provides $2.3M bridge loan to Ferrox Critical Minerals with conversion rights

## Summary
- $2.3M convertible promissory note to Ferrox; 5% interest, matures Oct 30, 2026.
- Conversion price: lower of fair market value or based on $80M total equity value of Ferrox.
- Company received $200,000 origination fee; default interest rises to 15% with $4,500/day fee.
- SmartKem granted right of first refusal on Ferrox fundamental transactions and exclusivity through maturity.
- Negative covenants restrict Ferrox from dividends, asset sales, affiliate deals without consent.

## SEC filing metadata
- accession: 0001104659-26-051601
- form_type: 8-K
- ticker: SMTK
- cik: 0001817760
- company_name: SmartKem, Inc.
- filed_at: 2026-04-29T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1817760/000110465926051601/0001104659-26-051601-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1817760/000110465926051601/tm2613090d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-051601
- JSON: https://secwatch.observer/filing/0001104659-26-051601.json
- Plain text: https://secwatch.observer/filing/0001104659-26-051601.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.