secwatch.observer — SEC 8-K summary
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Issuer:     SmartKem, Inc. (SMTK)
CIK:        0001817760
Form:       8-K
Filed at:   2026-06-26T20:05:36+00:00
Accession:  0001104659-26-078247
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SmartKem raises $4M from additional Series A preferred closing and extends $2.5M bridge loan to Ferrox
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- Issued 5,000 Series A preferred shares and 10,753,615 warrants for $4.0M cash in an additional closing.
- Funded a $2.5M convertible promissory note to Ferrox Critical Minerals, bearing 5% interest, maturing Dec 31, 2026.
- Loan conversion price is lower of FMV per share or value based on $80M fully-diluted Ferrox equity.
- Ferrox granted SmartKem exclusivity on fundamental transactions through Dec 31, 2026 and a right of first refusal.
- The new loan adds to a previously announced $2.5M convertible note from April 23, 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817760/000110465926078247/0001104659-26-078247-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817760/000110465926078247/tm2618924d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-078247

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