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Security Matters SMX Makes $360 Million SPAC NASDAQ Listing

Security Matters

Security Matters Limited SMX, an Israeli firm that has developed solutions to mark products to track them in the supply chain and ensure authenticity, has entered into a new deal to be listed on the NASDAQ after entering into a business combination with the SPAC Lionheart III Corp. The Israeli company will delist from the Australian Securities Exchange where it is currently traded as a public company.

The new combined entity is expected to commence trading on the NASDAQ in Q4 2022.

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Security Matters SMX is currently valued at US $200 million and is expected to generate proceeds of up to approximately US $116 million from the new deal. Total proforma equity value of the combined group is expected to be $US360 million.

Security Matters SMX calls itself a company for the 21st century that enables a transition to a circular economy that is” positive, productive, and profitable for participants in the value chain – and for the planet. To unlock the way global businesses will operate tomorrow, SMX is an enabler for a real-world circular economy.”

SMX boasts that through its white label B2B offerings, the future of a sustainable world is able to be created by “narratives that connect tangible, sustainable, ESG practices with the brand’s transparent traceability strategy, designed to create a profitable lifetime relationship with its customers that is circular rather than linear or transactional.”

Security Matters SMX shareholders will receive consideration (the “Consideration”) via a scheme of arrangement consisting of an aggregate of 20,000,000 ordinary shares of SMX Ireland (“SMX Ireland Shares”) being 10.2432 SMX Shares per one share in SMX Ireland, with an issued value of $10.00 per SMX Ireland Share.

At the closing, Security Matters SMX shareholders will own approximately 55.5% of the combined company, if there are no redemptions by Lionheart’s public stockholders.

“The world is demanding greater transparency, efficiency, and resilience. There is a critical call to action by the global market to do things better. This is a challenge loaded with exciting possibilities that Security Matters is ready to accept by creating products that can help uphold supply-chain integrity, provide quality assurance and brand accountability to producers of goods. With this merger, we have entered a new chapter to boost our capacity to power and enable the circular economy” said SMX.

Security Matters SMX CEO Haggai Alon commented: “SMX is thrilled to join Lionheart in our entry into the US public market. Together we will create a premier ESG company and a sustainable technology leader to transform global supply chains into intelligent ecosystems. SMX is revolutionizing the way that global brands operate their production line, from raw to reused/recycled materials to end-to-end traceability and marking technology. By giving materials a memory and tangibly linking parts of the value chain, SMX will enable multiple use and reuse of materials, where nothing is wasted. The roadmap ahead will be supported and driven by strong innovation and technology commercialization, while putting sustainability at the core of everything we do. We believe this will make SMX the enabler/de-facto industry standard.”



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