SMX (Security Matters) Public Limited Company has successfully completed a financing transaction with an institutional investor, as detailed in a Form 6-K filed with the SEC for July 2024. The company entered into a Securities Purchase Agreement on July 19, 2024, issuing a promissory note and warrants for gross proceeds of $747,500, before fees and expenses. The funding is expected to occur on July 26, 2024. The note, with a principal amount of $1,150,000 and an original issue discount of 35%, matures in 12 months. The investor can convert the note into ordinary shares at a price lower than market value, subject to a 4.99% beneficial ownership limit. The company also has conversion rights, with the same ownership limitation. A 'Conversion Default Payment' applies if the company fails to deliver...Show More

SMX (Security Matters) Public Limited Company has successfully completed a financing transaction with an institutional investor, as detailed in a Form 6-K filed with the SEC for July 2024. The company entered into a Securities Purchase Agreement on July 19, 2024, issuing a promissory note and warrants for gross proceeds of $747,500, before fees and expenses. The funding is expected to occur on July 26, 2024. The note, with a principal amount of $1,150,000 and an original issue discount of 35%, matures in 12 months. The investor can convert the note into ordinary shares at a price lower than market value, subject to a 4.99% beneficial ownership limit. The company also has conversion rights, with the same ownership limitation. A 'Conversion Default Payment' applies if the company fails to deliver shares upon conversion. The agreement restricts the company from selling securities for 25 business days post-agreement without investor consent and includes customary Events of Default provisions. The warrant allows the investor to purchase additional shares at $6.23 each until five and a half years post-issuance. A Registration Rights Agreement was also signed for resale of the shares underlying the note and warrant. The securities were issued in a private placement and are not yet registered for public sale in the U.S. Dawson James Securities Inc. received $7,500 as placement agent fees for the transaction.