Summary by Moomoo AI
On April 30, 2024, SMX (Security Matters) received a comment from the United States Securities and Exchange Commission (SEC) regarding its Post-Effective Amendment No. 1 to the Registration Statement on Form F-1, which was initially filed on April 22, 2024. The SEC's comment addressed the disclosure concerning the selling stockholders, specifically noting that EF Hutton LLC, listed as one of the selling shareholders, is a broker-dealer. The SEC requested that SMX revise its disclosure or provide a rationale if it believes the comment does not apply. The SEC also reminded SMX that a registration statement must identify any broker-dealer as an underwriter if the shares were not issued as underwriting compensation and that disclosures regarding affiliates of broker-dealers must be clear about the nature of the securities purchase and any distribution agreements. The SEC emphasized the responsibility of SMX and its management for the accuracy and adequacy of their disclosures.