SMX Public Limited Company has announced the issuance of up to 212,287 Ordinary Shares as detailed in a prospectus dated August 28, 2024. The prospectus outlines the resale of these shares by Selling Stockholders, which includes shares already issued and outstanding, those potentially acquired from convertible promissory note conversion, shares from the transfer back to the company of interests in True Gold Consortium Pty Ltd, and shares underlying warrants. The Selling Stockholders are permitted to sell their shares at market or through negotiated transactions, and while the company will not benefit directly from these sales, it will receive proceeds from any exercised warrants. SMX, which is listed on The Nasdaq Capital Market under the symbol 'SMX,' is designated as an 'emerging growth company...Show More

SMX Public Limited Company has announced the issuance of up to 212,287 Ordinary Shares as detailed in a prospectus dated August 28, 2024. The prospectus outlines the resale of these shares by Selling Stockholders, which includes shares already issued and outstanding, those potentially acquired from convertible promissory note conversion, shares from the transfer back to the company of interests in True Gold Consortium Pty Ltd, and shares underlying warrants. The Selling Stockholders are permitted to sell their shares at market or through negotiated transactions, and while the company will not benefit directly from these sales, it will receive proceeds from any exercised warrants. SMX, which is listed on The Nasdaq Capital Market under the symbol 'SMX,' is designated as an 'emerging growth company' and a 'foreign private issuer,' qualifying for less stringent disclosure requirements. The company has a history of losses and negative cash flows since its inception, relying on equity issuance, warrants, convertible notes, loans, and customer reimbursements to fund operations. The company's operating loss has grown significantly from 2022 to 2023, driven by increased expenses in research and development, general and administrative costs, and the expenses associated with becoming a public company. SMX's liquidity and capital resources are derived from cash and cash equivalents, financing activities, and government grants. The company faces various market risks, including those related to foreign currency exchange, credit, and liquidity. SMX's management team includes Ophir Sternberg as Chairman and other notable directors such as Haggai Alon, Amir Bader, Roger Meltzer, Thomas Hawkins, Zeren Browne, and Pebble Sia Huei-Chieh.