Summary by Futu AI
SMX (Security Matters) Public Limited Company has announced the completion of a financing transaction with Canterbury Group Ltd. on July 8, 2024, resulting in the issuance of a promissory note and warrants for gross proceeds of approximately $615,000. The funds are intended for working capital and general corporate purposes. The note, with a principal amount of $750,000, matures on September 2, 2024, and includes a one-time interest charge. Additionally, the company has the obligation to pay a 'Fail to Deliver Fee' if it cannot timely deliver Ordinary Shares upon conversion of the note. Furthermore, SMX issued 4,070,403 Ordinary Shares to former debtholders and 67,500 5-year warrants as part of debt settlement agreements. These transactions have led to an automatic downward adjustment of the exercise prices of certain...Show More