Summary by Futu AI
On April 11, 2024, SMX (Security Matters) Public Limited Company completed a financial transaction with an institutional investor, issuing a promissory note and warrants for gross proceeds of approximately $2.0 million, before fees and expenses. The funding is expected to occur on April 15, 2024. The proceeds will be used to repay debt and for general corporate purposes. The note, with a principal amount of $2.25 million, will mature in 12 months, with an interest rate of 12% per annum. The investor has the option to convert the note into ordinary shares at a fixed price of $0.24 per share, subject to certain conditions and limitations. The company also issued a warrant for over 11 million ordinary shares with an exercise price of $0.157 per share, exercisable until five and a...Show More