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6-K: Report of foreign private issuer (related to financial reporting)

SEC ·  Sep 11, 2024 04:54

Summary by Moomoo AI

SMX (Security Matters) Public Limited Company reported a series of financial transactions and agreements in its Form 6-K filed with the SEC for September 2024. The company completed a promissory note financing deal on August 30, 2024, issuing a note for $223,675, which includes a 10% interest charge, to an institutional investor for gross proceeds of $194,500. The note is due on June 30, 2025, with the option for the company to prepay at a discount by February 26, 2025. In the event of default, the note may convert into ordinary shares at a 25% discount. Additionally, SMX entered into a Letter of Intent with PMB Partners on July 10, 2024, which led to the execution of definitive agreements on September 9, 2024, for a $800,000 convertible note and a $500,000 senior promissory note. The company also...Show More
SMX (Security Matters) Public Limited Company reported a series of financial transactions and agreements in its Form 6-K filed with the SEC for September 2024. The company completed a promissory note financing deal on August 30, 2024, issuing a note for $223,675, which includes a 10% interest charge, to an institutional investor for gross proceeds of $194,500. The note is due on June 30, 2025, with the option for the company to prepay at a discount by February 26, 2025. In the event of default, the note may convert into ordinary shares at a 25% discount. Additionally, SMX entered into a Letter of Intent with PMB Partners on July 10, 2024, which led to the execution of definitive agreements on September 9, 2024, for a $800,000 convertible note and a $500,000 senior promissory note. The company also amended its Incentive Equity Plan, increasing the number of authorized shares and granted stock units and options to executives, directors, consultants, and advisors. Furthermore, SMX is involved in a legal dispute with R&I Trading of New York over a terminated $5 million contract for supply chain management services to a NATO member state, which the company believes to be unlawful and intends to defend vigorously.

This announcement is a separate document:

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