SMX Public Limited Company has announced a series of corporate and financial updates as of June 18, 2024. The company has entered into a Stock Purchase Agreement (SPA) with an institutional investor for equity financing up to $30 million, with further plans to secure additional funding through convertible notes and a subsequent funding round. Financially, SMX has been active in raising capital by issuing ordinary shares and warrants, including a convertible promissory note of $2.25 million to an investor. The company has also converted financial liabilities into shares and has commitments for bonus payments to lenders tied to liquidity events. A $5 million contract with R&I Trading of New York is in place, expected to extend into the latter half of 2024. SMX has compensated...Show More

SMX Public Limited Company has announced a series of corporate and financial updates as of June 18, 2024. The company has entered into a Stock Purchase Agreement (SPA) with an institutional investor for equity financing up to $30 million, with further plans to secure additional funding through convertible notes and a subsequent funding round. Financially, SMX has been active in raising capital by issuing ordinary shares and warrants, including a convertible promissory note of $2.25 million to an investor. The company has also converted financial liabilities into shares and has commitments for bonus payments to lenders tied to liquidity events. A $5 million contract with R&I Trading of New York is in place, expected to extend into the latter half of 2024. SMX has compensated service providers with shares and has replaced an equity line agreement with Yorkville by entering into a new one with a different investor. This investor has fully converted a convertible note's principal into shares and exercised warrants. Additionally, SMX has issued shares to former debtholders and an institutional investor for the conversion of outstanding warrants and accrued interest, respectively. No significant legal proceedings have been reported that could impact the company's operations.