By Elias Schisgall

SMX (Security Matters) shares slid after the sustainability technology company said it had entered into a $111.5 million equity purchase agreement with Target Capital 1.

Shares were trading down 32% to $41.46 Monday morning. The stock has lost nearly half its value in the past year.

SMX said the purchase agreement consists of a convertible promissory note worth $11.5 million and a discretionary equity line of up to $100 million in shares.

The company said it had agreed to issue Target Capital 1 shares or pre-funded warrants worth $2 million for the commitment under the equity line.

It said there were no minimum commitments or restrictions on the use of capital raised through the equity purchase agreement. SMX also said the agreement allows it to allocate a portion of its proceeds toward digital reserve assets.

SMX said the transaction is expected to close Tuesday.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

December 01, 2025 10:44 ET (15:44 GMT)

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