secwatch.observer — SEC 8-K summary
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Issuer:     SmartKem, Inc. (SMTK)
CIK:        0001817760
Form:       8-K
Filed at:   2026-07-27T20:05:33+00:00
Accession:  0001104659-26-087085
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SmartKem provides $4.5M bridge loan to Ferrox Critical Minerals; raises $2M in preferred stock sale
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- Funded $4.5M convertible promissory note to Ferrox Critical Minerals, due Jan 31, 2027, at 5% interest, convertible at lower of fair market value or $80M equity value.
- Received $400,000 origination fee; default interest rate 15% and $4,500/day management fee.
- Closed $2.0M additional sale of 2,500 Series A Preferred shares and 5,377,025 warrants on July 24, 2026, under existing $17.1M facility.
- As of July 27, 2026, common shares outstanding: 25,862,643.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1817760/000110465926087085/0001104659-26-087085-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1817760/000110465926087085/tm2621383d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-087085

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