LION - Anti-counterfeit tech firm Security Matters to merge with SPAC Lionheart III

Anti-counterfeit technology company Security Matters (SMX) plans to merge with SPAC Lionheart III ( NASDAQ: LION ) through a deal that values the combined company at $360M.

The companies plan to combine under a new Irish company called SMX Public Limited, also known as SMX Ireland. Shares are expected to trade on Nasdaq under the symbol SMX.

The transaction is expected to generate gross proceeds of $116M, assuming no redemptions by Lionheart shareholders.

Based in Australia, Security Matters specializes in tech solutions for the product authentication, anti-counterfeit, and track and trace markets. The company’s shares are currently traded on the Australian market, but will cease trade upon completion of the merger.

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