SMX to begin trading on 4.1:1 reverse split basis from June 16

NEW YORK - SMX Public Limited Company (NASDAQ:SMX), currently trading near its 52-week low of $1.10 with a market cap of $3.21 million, announced Thursday that its previously approved 4.1:1 reverse stock split will begin trading on an adjusted basis on June 16, 2025, under the existing ticker symbol "SMX."

The reverse split, approved by shareholders on April 15, will reduce the company’s outstanding ordinary shares from approximately 4 million to 1 million. The company’s ordinary shares will receive a new CUSIP number (G8267K 166) and ISIN code (IE000B8AU702). According to InvestingPro data, the stock has experienced significant volatility, with a -99.61% return over the past year.

According to the announcement, outstanding company options, warrants, and other convertible securities will be proportionately adjusted. The company’s warrants listed on Nasdaq under the symbol SMXWW will retain their existing CUSIP number.

No fractional shares will be issued. Instead, SMX will aggregate fractional entitlements and sell them based on prevailing market prices.

Continental Stock Transfer & Trust Company is serving as the exchange agent for the reverse split. Shareholders with book-entry shares or those holding shares through banks or brokers will see the impact reflected in their accounts on or after June 17, 2025.

The company stated that the purpose of the reverse split is to increase the per share trading price of its ordinary shares.

Additional information about the reverse stock split can be found in the company’s proxy statement filed with the Securities and Exchange Commission on March 20, 2025, according to the press release statement.

In other recent news, SMX (Security Matters) PLC has successfully secured $5.5 million through the sale of convertible promissory notes to institutional investors. The funding is intended to enhance the company’s working capital, address general corporate purposes, and repay certain existing debts and liabilities. RBW Capital Partners LLC, a division of Dawson James Securities, Inc., facilitated the transaction, with legal counsel provided by Ruskin Moscou Faltischek PC for SMX and Sichenzia Ross Ference Carmel LLP for the placement agent. The convertible notes and any ordinary shares issued upon their conversion are not registered under the Securities Act of 1933 or state securities laws, limiting their offer or sale to accredited investors. This transaction is set to be further detailed in the company’s Form 6-K filing with the U.S. Securities and Exchange Commission. SMX’s recent financial maneuver underscores its strategic efforts to strengthen its financial position.

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