The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Security Matters (SMX) enters into a standby equity deed with Evolution Capital
  • The agreement will give SMX $2 million of standby equity over the next three months, with the proceeds to be used for working capital and the Lionheart merger
  • The company will retain full control of the subscription process, including whether it will execute a placement, the timing, and the number of shares to be issued
  • The issue price of the placement shares will be the greater of 17 cents or 91.5 per cent of the volume weighted average price the day before the issue
  • Shares are trading 2.27 per cent down today at 21.5 cents each at 1:14 pm

Security Matters (SMX) has entered into a standby equity deed with Evolution Capital.

The agreement will give SMX $2 million of standby equity over the next three months, with the proceeds to be used for working capital and the Lionheart merger.

The company will retain full control of the subscription process, including whether it will execute a placement, the timing, and the number of shares to be issued.

However, each placement will be subject to the company’s placement capacity under the listing rules.

In addition, the issue price of the placement shares will be the greater of 17 cents or 91.5 per cent of the volume weighted average price the day before the issue.

The company said there is no lock up and Evolution Capital will be able to deal in the shares immediately upon issue.

Shares were trading 2.27 per cent down today at 21.5 cents each at 1:14 pm AEST.

SMX by the numbers
More From The Market Online
The Market Online Video

Market Close: ASX200 closes higher on interest rates pause

The ASX200 spiked straight after the Reserve Bank of Australia announced it’ll hold interest rates at…

The Calmer Co has shipped its Fiji Kava health shots to Australia

The Calmer Co (ASX:CCO) has confirmed its Kava-based health drink products have been shipped to Coles…

The Calmer Co’s FijiKava now at USA’s Walmart

Not long after hitting the shelves at Coles, Calmer Co's Fiji Kava products have hit the…
The Market Online Video

Webinar: Australia’s Uranium Awakening: Investing in a Glowing Future

Uranium's regained serious value after an extended price depression that resulted from plentiful supplies coupled with…