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SMX (Security Matters) PLC (NASDAQ:SMX) shares jumped 55.1% in after-hours trading on Tuesday, reaching $2.28.
Check out the current price of SMX stock here.
According to Benzinga Pro data, SMX closed Tuesday's regular session down 16.95% at $1.47.
According to a press release filed to the Securities and Exchange Commission (SEC) on Tuesday, the company and CARTIF, a non-profit technology research center in Spain, signed a non-binding letter of intent to assess the possibility of incorporating SMX’s molecular marking platform into CARTIF’s Industry 5.0 and sustainability initiatives.
The letter contemplates a 120-day evaluation period targeting applications in food and beverage packaging, renewable-energy components, construction materials, automotive plastics and critical-raw-material refining across Spain and Europe.
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CARTIF Deputy General Manager Sergio Sanz stated the platform offers “the kind of breakthrough capability our clients need to prove and improve circular performance.”
SMX also amended its 2022 Incentive Equity Plan, boosting authorized ordinary shares from about 1.004 million to 9.11 million, and granted 6.16 million restricted stock units (RSUs) and 1.95 million stock options to executives, directors, consultants, employees, and advisors, according to a prospectus supplement filed on Tuesday.
The prospectus supplement covers the potential resale of up to 22.59 million ordinary shares from convertible promissory note conversions totaling $15 million in principal at a $0.332 floor price.
The stock of the Ireland-based technology company has declined 99.97% year to date. The company has a market capitalization of $2.1 million.
Benzinga Edge Stock Rankings indicate that SMX has a negative price trend across all time frames. Track the performance of other players in this segment.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Posted In: SMX
