- Security Matters (SMX) enters trading halt as it plans an upcoming capital raise
- It is currently unknown how much the company is aiming to raise or how it plans to spend the money
- The last time it raised capital was early in the June quarter when it raised $5.3 million to progress its commercialisation strategy
- Company shares will be paused until Thursday, October 7, or when more details about the raise is released to the market
- Security Matters last traded at 30 cents per share on October 4
Security Matters (SMX) has entered into a trading halt as it plans an upcoming capital raise.
It is currently unknown how much the company is aiming to raise or how it will spend the funds.
Under the halt, company shares will be paused until Thursday, October 7, or when more details about the raise are released to the market.
Security Matters creates tools that help manufacturers and consumers detect imitation goods.
In recent activities, the company reappointed Everardus Hofland as chair of the company and Haggai Alon as CEO.
Mr Hofland has been a director of Security Matters Israel since 2015 and has been the chair since the IPO in 2018.
Mr Alon is the founder of Security Matters and has over 25 years of experience in commercialising this technology.
It also announced roughly five weeks ago that it was in a strong cash position to progress its commercialisation strategy after raising $5.3 million in the June quarter.
Security Matters last traded at 30 cents per share on October 4.