SMX (Security Matters) Public Limited Company Announces $5.35 Million Private Placement

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[{"type":"text","content":"NEW YORK, NY / ACCESSWIRE / September 11, 2024 / SMX (Security Matters) Public Limited Company (NASDAQ:SMX) (the \"Company\"), a pioneer in digitizing physical objects for a circular economy, today announced that it has entered into definitive agreements with institutional investors for the purchase and sale of approximately $5,350,000 million of Ordinary Shares and pre-funded and investor warrants at a price of $1.00 per Common Unit.The offering consisted of the sale of 5,350,000 Common Units (or Pre-Funded Units), each consisting of one Ordinary Share or Pre-Funded Warrant and two (2) Series A Common Warrants, each to purchase one (1) Ordinary Share per warrant at an exercise price of $1.00, and one (1) Series B Common Warrants to purchase such number of Ordinary Shares as determined in the Series B warrant. The public offering price per Common Unit was $1.00 (or $0.9999 for each Pre-Funded Unit, which is equal to the public offering price per Common Unit to be sold in the offering minus an exercise price of $0.0001 per Pre-Funded Warrant). The Pre-Funded Warrants will be immediately exercisable subject to registration and may be exercised at any time until exercised in full. For each Pre-Funded Unit sold in the offering, the number of Common Units in the offering will be decreased on a one-for-one basis. The initial exercise price of each Series A Common Warrant is $1.00 per Ordinary Share. The Series A Common Warrants are exercisable immediately subject to registration and expire 66 months after the initial issuance date. The number of securities issuable under the Series A Common Warrant is subject to adjustment as described in more detail in the report on Form 6-K filed in connection with the offering. The initial exercise price of each Series B Common Warrant is $0.00001 per Ordinary Share. The Series B Common Warrants are exercisable immediately subject to registration. The number of securities issuable under the Series B Common Warrant is subject to adjustment as described in more detail in the report on Form 6-K filed in connection with the offering.Aggregate gross proceeds to the Company are expected to be approximately $5,350,000 million. The transaction is expected to close on or about September 12, 2024, subject to the satisfaction of customary closing conditions. The Company expects to use the net proceeds from th...

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