Highest-materiality recent filing
SmartKem provides $2.3M bridge loan to Ferrox Critical Minerals with conversion rights
$2.3M convertible promissory note to Ferrox; 5% interest, matures Oct 30, 2026.
SmartKem regains Nasdaq equity compliance; faces bid price grace period through Sep 1, 2026
Nasdaq panel determined SmartKem regained compliance with stockholders' equity requirement under Rule 5550(b)(2).
Amends 8-K filed March 30, 2026; original warrant count of 23,251,960 corrected to 24,542,982.
SmartKem subsidiary CTO Simon Ogier resigns effective April 13, 2026
Simon Ogier voluntarily resigned as CTO of SmartKem Ltd., effective April 13, 2026.
SmartKem raises ~$9.1M in Series A Preferred & warrant placement; also enters up to $500M ELOC
Private placement of 11,411.5 Series A Preferred shares and 23,251,960 warrants at $0.5812 per share; gross proceeds ~$9.13M.
SmartKem raises $2.6M in registered direct offering of 11.4M shares at $0.2303/share
Sold 11,365,350 shares to institutional investors at $0.2303 per share for gross proceeds of $2,617,440.
SmartKem issues $3.75M senior secured notes at 30% discount; settles prior noteholder disputes
Issued $3.75M senior secured notes (30% OID) for $2.625M; zero interest unless default then 14% p.a.; 6-month maturity.
SmartKem receives Nasdaq bid price deficiency notice; equity rule delisting appeal pending
Received Nasdaq notice on March 5, 2026 for failing minimum bid price of $1.00 over 30 consecutive trading days.
SmartKem receives Nasdaq delisting notice for equity non-compliance; plans hearing
Nasdaq notified SmartKem on Feb 12, 2026 of delisting due to failure to meet $2.5M stockholders' equity requirement.
SmartKem converts $2.0M accounts payable to equity at $2.75/share
Issued 385,130 shares of common stock and pre-funded warrants for 348,260 shares to satisfy $2,016,821 owed by subsidiary.
SmartKem raises $680,500 in registered direct offering of common stock and pre-funded warrants
Issued 677,129 shares at $0.50/share and 683,871 pre-funded warrants at $0.4999 each to an institutional investor.
SmartKem Chief Scientist Beverley Brown retires effective Jan 12, 2026
Beverley Brown, Chief Scientist of SmartKem, notified her intention to retire effective January 12, 2026.
Agreement with unnamed global consumer electronics leader to develop conformable MicroLED displays using SmartKem's OTFT technology.
Exclusivity period for negotiating definitive agreement extended to February 3, 2026.
SmartKem Q3 revenue $81k, operating loss $3.1M; cash $0.9M; bridge financing secured
Revenue $81k (up from $40k YoY); operating loss $3.1M vs $2.8M.
SmartKem issues $1.1M secured notes, warrants; curtails operations due to cash need
Issued $1.1M principal Senior Secured Notes and warrants for 400K shares at $2.75 exercise price for $1M total.
Amendment dated October 13, 2025 with holders of June 2023 private placement securities.
SmartKem enters non-binding LOI for reverse merger with Jericho Energy Ventures
Jericho stockholders to own 65%, SmartKem stockholders 35% of combined company in all-stock deal.
SmartKem enhances CEO severance, grants equity awards to executives and directors
CEO Ian Jenks severance increased from 6 to 12 months base salary if terminated without cause or resigns for good reason.
SmartKem board authorizes review of strategic alternatives to increase stockholder value
Board authorized management to consider strategic alternatives including potential transactions to increase shareholder value.
SmartKem receives Nasdaq delisting notice for stockholders' deficit of ($127k)
Stockholders' deficit of ($127,000) as of June 30, 2025, below Nasdaq minimum of $2.5M.
SmartKem Q2 cash $1.2M, expects to fund operations only through Sep 30, 2025
Cash of $1.2M at June 30, 2025, down from $7.1M at Dec 31, 2024; runway through Sep 30 only.
SmartKem signs preliminary JDA with Manz Asia for AI chip packaging dielectric inks
Preliminary, non-binding Joint Development Agreement with Manz Asia for dielectric ink solutions in advanced packaging.
SmartKem extends CPI services agreement to Dec 31, 2025; waives minimum usage obligations
Extension of Framework Services Agreement with CPIIS to December 31, 2025; minimum usage obligations waived.
SmartKem's subsidiary extended its Framework Services Agreement with CPI Innovation Services to June 30, 2025 via a Letter of Variation.
SmartKem shareholders approve 800K share increase to equity plan; DenBaars elected director
Steven DenBaars elected Class I director for three-year term expiring 2028; 1,296,796 votes for, 348,663 withheld.
Smartkem Q1 revenue $23K; operating loss widens to $3.1M; cash drops to $3.9M
Revenue of $23K for Q1 2025 vs nil in Q1 2024; loss from operations $3.1M vs $2.4M.
Series A-1 Preferred Stock converts to 690,788 common shares and 1,282,412 warrants
856 shares of Series A-1 Preferred Stock (stated value $10,000/share) automatically converted on May 7, 2025.
SmartKem auditor changes from Marcum to CBIZ; going-concern note in prior audits
Marcum LLP resigned as independent auditor on April 21, 2025; CBIZ CPAs P.C. (which acquired Marcum's attest business) appointed same day.
SmartKem sets 2025 annual meeting for May 28; record date April 14
Annual meeting scheduled for May 28, 2025; record date for stockholders is April 14, 2025.
SmartKem reports FY 2024 revenue of $82K, cash $7.1M; advances MicroLED partnerships
Revenue $82K for FY 2024, up from $27K in 2023, driven by demonstrator product sales.
Smartkem signs MOU with RiTdisplay to integrate OTFT process into Gen2.5 pilot line
Smartkem (SMTK) and RiTdisplay signed non-binding MOU to transfer OTFT prototyping to RiTdisplay's Gen2.5 commercial line.
SmartKem appoints Jonathan Watkins as COO effective March 10, 2025
Appointed Jonathan Watkins as COO; base salary of $257,000 plus discretionary bonus.
SmartKem approves discretionary cash bonuses totaling $311K for four executive officers
CEO Ian Jenks receives $150,000 bonus; CFO Barbra Keck receives $99,041.
SmartKem recaps 2024 achievements, sets 2025 goals; raised $7.65M in December
Raised $7.65M in December 2024; awarded $1.1M grant with AUO for rollable transparent microLED display.
SmartKem raises ~$6.6M, believes it regains Nasdaq equity compliance
Completed offering on Dec 20, 2024, issuing shares and warrants for ~$6.6M net proceeds.
Smartkem prices $7.65M combined public and private offering of common stock and warrants
Gross proceeds of ~$7.65M from combined public and private offerings priced at $3.00 per share/unit.
SmartKem amends Series A-1 Preferred terms and settles Hewlett dispute, contingent on $4M offering
Consent agreement reduces Series A-1 conversion price to $4.34, removes dividends and liquidation preference, effective upon a Qualified Offering raising at least $4M.
SmartKem defers Series A-1 preferred dividend accrual to Jan 31, 2025 via amendment
856 shares of Series A-1 Preferred Stock outstanding; dividend accrual previously scheduled to begin Dec 14, 2024.
Smartkem signs multi-year collaboration with FlexiIC to develop CMOS smart sensors
Multi-year agreement with FlexiIC to co-develop low-power CMOS enabled sensor devices using Smartkem's OTFT and n-type oxide TFT.
SmartKem partners with AUO to develop rollable transparent microLED display using OTFTs
Collaboration begins Jan 1, 2025 on ITRI's Gen 2.5 pilot line; each party bears own costs.
SmartKem receives Nasdaq deficiency notice for stockholders' equity below $2.5M
Stockholders' equity of $2.3M as of Sept 30, 2024, below Nasdaq's $2.5M minimum requirement.
SmartKem Q3 cash drops to $1.8M; revenues nil; JDA with Chip Foundation for microLED backlight
Cash and equivalents $1.8M as of Sep 30, 2024, down from $8.8M at Dec 31, 2023.
SmartKem annual meeting elects directors, ratifies auditor
Ian Jenks and Melisa Denis elected as Class III directors, each with 501,449 votes for and 4,573 withheld.
SmartKem reports Q2 2024 revenue of $40K, net loss of $3.1M; cash drops to $4.4M
Revenue $40K (up from $8K Q2 2023); gross profit $8K.
SmartKem awards $32K bonuses to two executives; sets annual meeting date
Compensation Committee approved one-time special bonuses of $32,110 each to Chief Scientist Beverley Brown and CTO Simon Ogier.
SmartKem grants options and uplisting bonuses to executives
CEO Ian Jenks awarded options for 181,000 shares at $6.50; 25% vested immediately, balance over 3 years.
SmartKem uplists to Nasdaq Capital Market; preferred shares convert to common
Received Nasdaq approval on May 30, 2024; trading under SMTK begins May 31.
Effective March 10, 2025, SmartKem, Inc. (the “Company”) appointed Jonathan Watkins as its Chief Operating Officer.
Max materiality 0.85 · Median 0.60 · Most common event other_material