Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information
Our common stock is traded on the Nasdaq Global Market under the symbol SMXT.
Stockholders
As of April 10, 2024, we had 74 stockholders of record. Based on information provided to us we believe that we have more than 700 beneficial owners of our common stock.
Transfer Agent
Continental Stock Transfer & Trust Company, One State Street, 30th floor, New York, New York 10004-1561 is the transfer agent for our common stock.
Dividends
We have never paid or declared any cash dividends on our common stock, and we do not anticipate paying any cash dividends on our common stock in the near future. We intend to retain all available funds and any future earnings to fund the development and expansion of our business. Any future determination to pay dividends will be at the discretion of our board of directors and will depend upon a number of factors, including our results of operations, financial condition, future prospects, contractual restrictions, restrictions imposed by applicable law and other factors our board of directors deems relevant.
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Securities Authorized for Issuance Under Equity Compensation Plans
The following table gives information concerning common stock that may be issued by us with respect to compensation plans, including individual compensation arrangements) as of December 31, 2023:
Equity Compensation Agreements Information
Plan category
Number of securities to be issued upon exercise of outstanding options, warrants and rights
(#)
Weighted average exercise price of outstanding options, warrants, and rights
($)
Number of securities remaining available for future issuance under equity compensation plans (excluding outstanding options and warrants)
(#)
As of December 31, 2023
Equity compensation plans approved by security holders
6,096,122
$ 5.01
9,023,878
Equity compensation plans not approved by security holders
199,736
$ 3.50
0
Total
6,295,858
$ 4.96
9,023,878
Use of Proceeds from Our Initial Public Offering
The net proceeds from our initial public offering were approximately $18.6 million. As of March 31, 2024, we used approximately $0.8 million to make payments due to our former executive vice president and $0.1 million to a former employee pursuant to our agreements with them. We also used $2.9 million to pay the principal payments due on the convertible debentures issued to the former limited partners of CEF pursuant to the terms of the debentures. The balance is being held in short-term interest-bearing deposits and securities.
Item 6. [ Reserved ]
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the is authoritative for anything you rely on.