Summary by Moomoo AI
On June 6, 2024, SMX (Security Matters) received a comment letter from the United States Securities and Exchange Commission (SEC) regarding its Registration Statement on Form F-1, initially filed on May 29, 2024. The SEC conducted a limited review and requested clarifications on the terms of the stock purchase agreement detailed in the registration statement. Specifically, the SEC pointed out inconsistencies in the company's disclosure about the conditions under which it can issue a put notice for the sale of shares, particularly when the market price of the common stock is below $0.20. Additionally, the SEC highlighted a discrepancy between the potential aggregate gross proceeds of $30 million and the maximum put amount of $500,000 over a 30-day period during the 36-month term of the agreement...Show More