- Brand protection and anti-counterfeit company Security Matters (SMX) shares are in a trading halt ahead of a capital raise announcement
- The company has not indicated how much it hopes to raise or what the funds will be used for
- This is the latest in a string of placements for the SMX which attests to raising $9.26 million throughout 2020
- SMX has worked with a number of partners including the Perth Mint, chemicals company BASF and technology company Trifecta Industries
- Security Matters requested the trading halt until an announcement is made to the market in relation to the proposed capital raising or the commencement of trading on December 16, 2020
- Shares last traded at 40.5 cents prior to the trading halt
Brand protection and anti-counterfeit company Security Matters (SMX) shares are in a trading halt ahead of a capital raise announcement.
The company has not indicated how much they hope to raise or what the funds will be used for, has completed a string of placements throughout the year which it reports totalling $9.26 million.
This round of capital raising is in addition to four earlier placements, announced on November 17 for $2.1 million, March for $5 million and a supplementary $1.4 million.
A spokesperson for the company says SMX’s balance sheet has been significantly strengthened and is currently expected to provide a financial runway to mid-2022 as a result.
SMX has worked with a number of partners including the Perth Mint, chemicals company BASF and technology company Trifecta Industries.
Security Matters requested the trading halt until an announcement is made to the market in relation to the proposed capital raising or the commencement of trading on December 16, 2020.
Shares last traded at 40.5 cents prior to the trading halt.