SmartKem, Inc. (SMTK) Form 8-K — Jun 26, 2026
On June 22, 2026, SmartKem, Inc. funded an additional bridge loan to Ferrox Critical Minerals in the original principal amount of $2,500,000. The loan carries a 5.0% annual interest rate, matures on December 31, 2026, and is convertible into Ferrox ordinary shares based on an equity valuation of $80 million. Concurrently, the company completed an Additional Closing under its Preferred Stock Purchase Agreement, issuing 5,000 shares of Series A Preferred Stock and warrants to purchase 10,753,615 shares of common stock.
Key figures
- Debt Amount
- $2,500,000.00
- Interest Rate
- 5.0%
- Maturity Date
- December 31, 2026
- Gross Proceeds
- $4,000,000
- Shares Offered
- 5000
- Total Spa Value
- $17,129,200.00 million
- Origination Fee
- $200,000.00
- Warrants Issued
- 10,753,615
- Default Interest Rate
- 15.0%
- Default Management Fee
- $4,500.00 per day
Price after filing
Close on the filing date to close N calendar days later (from $0.23). Historical, not a forecast.
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.