Gold prices set for weekly drop as strong dollar weighs; Trump tariffs in focus
NEW YORK, NY - SMX (Security Matters) PLC (NASDAQ:SMX; SMXWW), a company specializing in "physical to digital" solutions for the circular economy, announced today that it has secured funding through the sale of convertible promissory notes to institutional investors, totaling $5.5 million. The private placement deal, which represents more than the company’s current market capitalization of $4.59 million, is set for initial closing today. According to InvestingPro data, SMX shares have declined over 90% year-to-date, though current analysis suggests the stock may be undervalued.
The raised capital is earmarked for bolstering the company’s working capital, general corporate purposes, and for the repayment of certain existing debts and liabilities. This funding comes at a crucial time, as InvestingPro analysis shows the company’s current ratio stands at 0.02, indicating significant short-term liquidity challenges. RBW Capital Partners LLC, a division of Dawson James Securities, Inc., facilitated the placement as the agent, while Ruskin Moscou Faltischek PC provided legal counsel to SMX, and Sichenzia Ross Ference Carmel LLP represented the placement agent.
The convertible notes, along with the ordinary shares that may be issued upon their conversion, are not currently registered under the Securities Act of 1933 or state securities laws. Consequently, they may not be offered or sold without registration or an applicable exemption from the registration requirements. This financial instrument was exclusively available to accredited investors.
Further details regarding this transaction will be disclosed in the company’s Form 6-K, which is to be filed with the U.S. Securities and Exchange Commission and will be accessible at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction where such an offer, solicitation, or sale would be unlawful without registration or qualification under the securities laws of that jurisdiction. For investors seeking deeper insights into SMX’s financial health and valuation metrics, InvestingPro offers comprehensive analysis with 16 additional ProTips and detailed financial metrics.
The announcement is based on a press release statement from SMX.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.