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SMX (Security Matters) Announces Key Changes: Reverse Stock Split and Nasdaq Trading Date

$SMX
Form 6-K
Filed on: 2025-01-13
Source
SMX (Security Matters) Announces Key Changes: Reverse Stock Split and Nasdaq Trading Date

Here are the key insights and important information extracted from the financial report (Form 6-K) of SMX (Security Matters) Public Limited Company:

  1. Trading Date and Market:
  • The company's ordinary shares will begin trading on the Nasdaq Capital Market on January 15, 2025.
  • Trading will occur under the existing symbol "SMX".
  1. Reverse Stock Split:
  • A reverse stock split has been approved by shareholders, effective from January 15, 2025.
  • The reverse stock split ratio is 28.5 to 1, meaning every twenty-eight and one-half ordinary shares will be combined into one ordinary share.
  • This action will reduce the total number of outstanding shares from approximately 33 million to around 1 million.
  1. CUSIP and ISIN Codes:
  • The new CUSIP number for the ordinary shares will be G8267K158.
  • The new ISIN code will be IE000WZ90ZV5.
  1. Par Value Adjustment:
  • The par value of the ordinary shares will increase from $0.165 to approximately $4.70.
  1. Impact on Other Securities:
  • All outstanding options, warrants, and convertible securities will be proportionately adjusted according to the terms following the reverse stock split.
  • The company's warrants listed on Nasdaq under the symbol SMXWW will retain their existing CUSIP number.
  1. Constitution Amendment:
  • The Public Limited Company Constitution has been amended to reflect the adjustment in par value due to the reverse stock split.
  1. Attached Documents:
  • The report includes:
    • Exhibit 1.1: A copy of the Amended Constitution.
    • Exhibit 99.1: A press release dated January 13, 2025, titled "SMX Announces Effective Date of Reverse Stock Split."
  1. Company Information:
  • Company Name: SMX (Security Matters) Public Limited Company
  • Address: Mespil Business Centre, Mespil House, Sussex Road, Dublin 4, Ireland
  • Contact: Tel: +353-1-920-1000
  • Commission File Number: 001-41639

This information is critical for investors and stakeholders to understand the forthcoming changes in the company's equity structure, the implications of the reverse stock split, and the operational adjustments being made in connection with these changes.