On August 3, 2026, SmartKem, Inc. entered into a definitive Business Combination Agreement to acquire Ferrox Critical Minerals in an all-stock transaction valued at approximately $125 million. The deal is subject to customary closing conditions, including shareholder approval and SEC registration via Form S-4. Terrence Duffy will serve as incoming CEO of the combined entity. SmartKem develops and manufactures custom electronic materials for industrial applications.
