SMX Signs Letter of Intent with PMB Partners, LP
Ticker: SMXWW · Form: 6-K · Filed: Jul 22, 2024 · CIK: 1940674
| Field | Detail |
|---|---|
| Company | Smx (Security Matters) Public Ltd Co (SMXWW) |
| Form Type | 6-K |
| Filed Date | Jul 22, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $1.3 million, $800,000, $10,000,000, $10.50, $0 |
| Sentiment | neutral |
Sentiment: neutral
Topics: letter-of-intent, financial-obligations
TL;DR
SMX signs LOI with PMB Partners, LP to address financial obligations.
AI Summary
On July 10, 2024, SMX (Security Matters) Public Limited Company entered into a Letter of Intent (LOI) with PMB Partners, LP. This agreement is part of the company's efforts to satisfy its financial obligations. The filing does not specify the exact financial terms or the nature of the obligations being addressed.
Why It Matters
This LOI indicates SMX is actively working to address its financial commitments, which could impact its operational stability and future funding.
Risk Assessment
Risk Level: medium — The LOI suggests SMX is facing financial challenges that require external agreements to resolve.
Key Players & Entities
- SMX (Security Matters) Public Limited Company (company) — Registrant
- PMB Partners, LP (company) — Party to Letter of Intent
- July 10, 2024 (date) — Effective Date of LOI
FAQ
What are the specific financial obligations SMX is trying to satisfy with this LOI?
The filing does not specify the exact nature or amount of the financial obligations SMX is addressing with PMB Partners, LP.
What are the terms of the Letter of Intent between SMX and PMB Partners, LP?
The filing states that a Letter of Intent was entered into on July 10, 2024, but the specific terms are not detailed in this report.
What is the role of PMB Partners, LP in this agreement?
PMB Partners, LP is a party to the Letter of Intent with SMX, as part of SMX's efforts to satisfy its financial obligations.
Is this LOI a definitive agreement or a preliminary step?
The document refers to it as a Letter of Intent (LOI), which typically signifies a preliminary, non-binding agreement outlining the basic terms for a future definitive agreement.
What does the 'Effective Date' of July 10, 2024, signify?
The 'Effective Date' of July 10, 2024, signifies the date on which SMX (Security Matters) Public Limited Company entered into the Letter of Intent with PMB Partners, LP.
Filing Stats: 985 words · 4 min read · ~3 pages · Grade level 20 · Accepted 2024-07-22 12:33:41
Key Financial Figures
- $1.3 million — g indebtedness SMX owes to PMB shall be $1.3 million (the “Total Outstanding Debt&rdqu
- $800,000 — ;), and shall be reorganized so that: $800,000 of which will be evidenced by a new con
- $10,000,000 — y in an amount equal to or in excess of $10,000,000 in the aggregate in one or more occasio
- $10.50 — pany at a conversion price per share of $10.50 (originally $0.14, before taking into a
- $0 — n price per share of $10.50 (originally $0.14, before taking into account the Comp
- $500,000 — % of voting power of the Company; and $500,000 of which will be evidenced by a new pro
- $35,000 — bject to certain tax gross-ups of up to $35,000; and The Company’s subsidiaries
- $500 — shall pay to PMB a fee in the amount of $500 per day as liquidated damages, until th
Filing Documents
- form6-k.htm (6-K) — 28KB
- ex10-1.htm (EX-10.1) — 120KB
- 0001493152-24-028645.txt ( ) — 148KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Date: July 22, 2024 SMX (SECURITY MATTERS) PUBLIC LIMITED COMPANY By: /s/ Haggai Alon Name: Haggai Alon Title: Chief Executive Officer