UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES
EXCHANGE ACT OF 1934
For
the month of August 2025
Commission
File Number: 001-41639
SMX
(SECURITY MATTERS) PUBLIC LIMITED COMPANY
(Exact
Name of Registrant as Specified in Charter)
Mespil
Business Centre, Mespil House
Sussex
Road, Dublin 4, Ireland
Tel:
+353-1-920-1000
(Address
of Principal Executive Offices) (Zip Code)
Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form
20-F ☒ Form 40-F ☐
As
of August 3, 2025, SMX (Security Matters) Public Limited Company (the “Company”) entered into a Securities Purchase Agreement
(the “Purchase Agreement”) with institutional investors (the “Investors”) to issue and sell to each of the Investors
a promissory note (the “Note”), for aggregate gross proceeds to the Company of up to $11.0 million, subject to conditions
(the “Purchase Price”), before deducting fees to the Placement Agent (as defined below) and other expenses payable by the
Company in connection with the offering (the “Offering”).
The
Purchase Price shall be paid as follows: $3,000,000 on the initial closing date (the “First Closing”); $3,000,000 on a second
closing date prior to the effective date of the First Form F-1 (as defined below) (the “Second Closing”); $2,500,000 on a
third closing upon the Third Closing Triggering Event (as defined below) (the “Third Closing”); and $2,500,000 on a fourth
closing on a fourth closing date prior to the effective date of the Second Form F-1 (as defined below) (the “Fourth Closing”).
The
First Closing was on August 4, 2025. The Company has committed to register for resale the Ordinary Shares that may be issued upon conversion
of the Note with respect to the First Closing and the Second Closing, and shall file a Registration Statement on Form F-1 (the “First
Form F-1”) within ten business days of the First Closing. The “Third Closing Triggering Event” means the later of (a)
the date that the Investors have converted all outstanding amounts owed under the Note from the First Closing and the Second Closing
into the Company’s Ordinary Shares and (b) the filing with the Securities and Exchange Commission of a second registration statement
covering the resale of all Ordinary Shares issuable upon conversion of the Note with respect to the Third Closing and the Fourth Closing
(the “Second Registration Statement”). In the event the Investors do not fully convert their Note with respect to the First
Closing and the Second Closing, the Investors are not required to fund the Note with respect to the Third Closing or the Fourth Closing.
The
Company intends to use the net proceeds from the sale of the Note for working capital and general corporate purposes, and to pay down
certain outstanding indebtedness and other liabilities of the Company.
RBW
Capital Partners LLC (a division of Dawson James Securities, Inc.) (the “Placement Agent”) acted as placement agent for the
Offering. Aegis Capital Corp. (“Aegis”) acted as exclusive advisor with respect to the Offering.
The
Notes are in the aggregate principal amount of up to $13,750,000 (the “Principal Amount”), and carry an original issue discount
of 20%. The maturity date of each Note is the 12-month anniversary of the issuance date, and is the date upon which the Principal Amount,
as well as any other fees, shall be due and payable.
Each
Investor has the right, at any time, to convert all or any portion of the then outstanding and unpaid Principal Amount and interest if
any (including any costs, fees and charges) into the Company’s ordinary shares, par value US$0.000000000000041 (the “Ordinary
Shares”) at a conversion price equal to the greater of $0.332 and 85% of the lowest daily volume weighted average price of the
Ordinary Shares during the seven trading days immediately prior to the date of conversion. Any such conversion is subject to conversion
limitations so each Investor beneficially owns less than 4.99% of the Ordinary Shares. Additionally, each Investor is limited from selling
the Ordinary Shares issued upon conversion of the Note in an amount equal to 20% of the Company’s trading volume during the same
trading day, which may be waived from time to time.
Subject
to exceptions described in the Purchase Agreement (the “Exempt Issuances”), including relating to the permitted issuance
of Company securities if such securities remain restricted through the maturity date of the Note or its earlier conversion in full, the
Company may not sell any equity or equity-linked securities during the term of the Note without the Investors’ consent.
The
Notes contain customary Events of Default for transactions similar to the transactions contemplated by the Purchase Agreement and the
Note, which entitle each Investor, among other things, to accelerate the due date of the unpaid principal amount of the Note. Upon the
first occurrence of an Event of Default with respect to the Note, the Principal Amount outstanding as of the Event of Default date shall
be automatically increased by 20%. Additionally, from and after the occurrence and during the continuance of any Event of Default, each
Note shall commence accruing interest at the rate of 20% per annum, and shall be due and payable on the first trading day of each calendar
month during the continuance of such Event of Default.
The
Purchase Agreement contains certain representations and warranties made by each of the Company and the Investor, as set forth therein.
On
July 30, 2025, the Company entered into an engagement letter in connection with the Offering (the “Engagement Letter”), with
the Placement Agent, pursuant to which the Placement Agent agreed to serve as the placement agent for the issuance and sale of securities
of the Company pursuant to the Purchase Agreement. As compensation for such placement agent services, the Company has agreed to pay the
Placement Agent, collectively with Aegis for its fees, an aggregate cash fee equal to 8.0% of the gross proceeds received by the
Company from the Offering, plus up to $90,000 for its fees and expenses.
Further,
pursuant to the Engagement Letter, the Placement Agent is entitled to compensation with respect to any financing of the Company occurring
within 12 months of the termination or expiration of the Engagement Letter when such financing is provided by investors whom the Placement
Agent actually introduced to the Company during the term of the Engagement Letter. The Engagement Letter also includes indemnification
obligations of the Company and other provisions customary for transactions of this nature.
The
Company expects to pay to the Placement Agent approximately $480,000 in the aggregate in cash fees in relation to the transactions contemplated
by the First Closing and the Second Closing, of which $240,000 is payable at the first closing and $240,000 is payable at the second
closing.
The
Note will be issued in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”),
and, along with the Ordinary Shares underlying the Note, will not be registered under the Securities Act or applicable state securities
laws. Accordingly, the Note and such underlying Ordinary Shares may not be offered or sold in the United States except pursuant to an
effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable
state securities laws. This Report on Form 6-K shall not constitute an offer to sell or a solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
The
foregoing is a brief description of the Purchase Agreement, the Note and the Engagement Letter, and is qualified in its entirety by reference
to the full text of such documents.
On
August 5, 2025, the Company issued a press release announcing the Offering, a copy of which is attached hereto as Exhibit 99.4
and is incorporated by reference into this Report on Form 6-K.
Exhibit
Number |
|
Description |
99.1 |
|
Engagement Letter |
99.2 |
|
Form of Securities Purchase Agreement |
99.3 |
|
Form of Promissory Note |
99.4 |
|
Press Release |
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:
August 5, 2025
|
SMX
(SECURITY MATTERS) PUBLIC LIMITED COMPANY |
|
|
|
By: |
/s/
Haggai Alon |
|
Name: |
Haggai
Alon |
|
Title: |
Chief
Executive Officer |