“Additionally, a number of investors are limited to North American mandates and moving to the Nasdaq was essential to take advantage of the increasing opportunities in the North American and global markets.
"We are on the verge of commercializing our technology in a number of major global markets - from gold to food and wine to fashion, rubber and plastics - and the valuation reflects that."
As part of the agreement, the newly merged company will be registered in Ireland under the name SMX.
More SPAC investors cashing out early
Security Matters was founded in Israel and went public on the ASX in 2018. It has developed Provenance technology and built a "submolecular-based hidden barcode system" that can be read with a unique reader. It allows people to verify a product's provenance and history.
As part of the SPAC, Security Matter's publicly traded Irish company, Empatan PLC, will become part of the combined company.
Local shareholders receive...
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