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 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 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 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.
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 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 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 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 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 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 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 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