On April 11, 2024, SMX (Security Matters) Public Limited Company completed a financial transaction with an institutional investor, issuing a promissory note and warrants for gross proceeds of approximately $2.0 million, before fees and expenses. The funding is expected to occur on April 15, 2024. The proceeds will be used to repay debt and for general corporate purposes. The note, with a principal amount of $2.25 million, will mature in 12 months, with an interest rate of 12% per annum. The investor has the option to convert the note into ordinary shares at a fixed price of $0.24 per share, subject to certain conditions and limitations. The company also issued a warrant for over 11 million ordinary shares with an exercise price of $0.157 per share, exercisable until five and a...Show More

On April 11, 2024, SMX (Security Matters) Public Limited Company completed a financial transaction with an institutional investor, issuing a promissory note and warrants for gross proceeds of approximately $2.0 million, before fees and expenses. The funding is expected to occur on April 15, 2024. The proceeds will be used to repay debt and for general corporate purposes. The note, with a principal amount of $2.25 million, will mature in 12 months, with an interest rate of 12% per annum. The investor has the option to convert the note into ordinary shares at a fixed price of $0.24 per share, subject to certain conditions and limitations. The company also issued a warrant for over 11 million ordinary shares with an exercise price of $0.157 per share, exercisable until five and a half years from the date of issue. Additionally, SMX entered into a Registration Rights Agreement for the resale of shares underlying the note and warrant, and amended the terms of an existing warrant, reducing its exercise price as part of an inducement for the investor's participation in the transaction. The securities were issued in a private placement and are not registered under the Securities Act, thus are subject to resale restrictions.