Australian technology company Security Matters Ltd. (ASX: SMX) today announced its business combination with Lionheart (NASDAQ: LION), a special acquisition purpose company. The combined entity, expected to be valued at US$360 million, will list on the NASDAQ via a newly-formed Irish company to be named SMX Public Limited Company (“SMX Ireland”). Upon the closing of the business combination, SMX shall cease to be quoted on the Australian Stock Exchange (“ASX”), while SMX Ireland’s ordinary shares and warrants are expected to trade on the NASDAQ under the new ticker symbols SMX and SMXW, respectively. “The world is demanding greater transparency, efficiency and resilience. There is a critical call to action by the global market to do things better,” stated SMX in the news release. “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.”
To view the full press release, visit https://ibn.fm/GQrWQ
About Lionheart III Corp.
Lionheart is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar combination with one or more businesses. For more information, visit https://lheartcapital.com/our-companies/lionheart-iii.
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