Summary by Futu AI
SMX (Security Matters) Public Limited Company, listed on The Nasdaq Capital Market under the symbol 'SMX', has filed a prospectus supplement to update and supplement information related to the resale of 6,497 ordinary shares by a selling stockholder. These shares were received through the conversion of $657,203 of indebtedness into ordinary shares. The update includes information from the company's Report on Form 6-K submitted to the SEC on July 22, 2024. Additionally, on July 10, 2024, SMX entered into a Letter of Intent with PMB Partners, LP to restructure its existing liabilities, which includes the issuance of new convertible and promissory notes, and the exchange of shares in a subsidiary for ordinary shares of SMX. The company has agreed to register these shares for resale. The closing price of SMX's ordinary shares was $4.37 as of July 25, 2024. The prospectus supplement is dated July 26, 2024, and the Letter of Intent includes a 75:1 reverse stock split effective July 15, 2024.