- Security Matters (SMX) fully repays its original loan provided by one of Israel’s largest industrial associations, as it prepares to list on the NASDAQ
- The company reduced its premium on the debt by almost 60 per cent from A$2.7 million to A$1.1 million, with the original size of the loan just under A$1 million
- It comes as the company prepares to merge with special purpose acquisition company (SPAC) Lionheart III to list on the NASDAQ index
- The combined companies are valued at US$360 million (A$523.03 million)
- Shares were trading flat today at 17 cents each at 1:55 pm AEST
Security Matters (SMX) has fully repaid its original loan provided by one of Israel’s largest industrial associations, as it prepares to list on the NASDAQ.
The company reduced its premium on the debt by almost 60 per cent from ILS6 million (A$2.7 million) to ILS2.5 million (A$1.1 million), with the original size of the loan just under A$1 million.
It comes as the company prepares to merge with special purpose acquisition company (SPAC) Lionheart III to list on the NASDAQ index.
The combined companies are reportedly valued at US$360 million (A$523.03 million).
The company said it will continue its successful relationship with shareholders as it moves to the NASDAQ.
“SMX would like to thank Kamea and the Kibbutz Movement for their longstanding support in providing us with the initial capital to grow the company,” the company stated.
Shares were trading flat today at 17 cents each at 1:55 pm AEST.