Core Points - The company SMX (Security Matters) Public Limited Company will implement a reverse stock split at a ratio of 75:1, effective July 15, 2024, reducing outstanding shares from approximately 39.6 million to about 528 thousand [1][2] - The primary objective of the reverse stock split is to increase the per share trading price to meet NASDAQ's minimum bid price requirement for continued listing [3] - All outstanding options, warrants, and convertible securities will be proportionately adjusted according to their terms, and no fractional shares will be issued [4] Company Actions - Continental Stock Transfer & Trust Company will act as the exchange agent for the reverse stock split, providing instructions to shareholders holding stock certificates [5] - Shareholders with shares in book-entry form will see the impact of the reverse stock split reflected in their accounts on or after July 16, 2024 [5] Industry Context - SMX offers technology solutions to assist businesses in transitioning to a low-carbon economy, addressing challenges related to carbon neutrality and compliance with new regulations [10]
SMX Announces Effective Date of Reverse Stock Split