Deal: DLA Piper has advised Lionheart III Corp, a Nasdaq-listed special purpose acquisition company (SPAC), on its US$360 million de-SPAC transaction with Australia-listed brand protection, supply chain integrity and blockchain technology company Security Matters Limited (ASX: SMX) to take Security Matters public on the Nasdaq Stock Market.

Value: US$360 million

Area: Capital markets

Key players: The DLA Piper team was led by co-chair of the firm’s Miami corporate practice Joshua Samek and Sydney-based partner David Ryan, who were primarily supported in the US by partner Steven Pidgeon and associates Jeffrey Scharfstein and Gabriel de Corral; in Australia by partner Elliott Cheung, special counsel Roger Hawkins and solicitor Cassian Ho; and in Ireland by legal director Steven Duggan and senior associate Michael Tansley.

Deal significance: Security Matters owns and commercialises technology to permanently “mark” objects (whether solid, liquid or gas), allowing identification, circularity, proof of authenticity, tracking supply chain movements and quality assurance, currently operating in the circular economy, including the plastics, electronics, precious metals and minerals, food and beverage and agriculture sectors.

Lionheart and Security Matters have entered into a business combination agreement and a scheme implementation deed that, subject to customary closing conditions, will result in Security Matters listing on the Nasdaq Stock Market via a newly formed Irish company to be named “Security Matters Public Limited Company”.

Ophir Sternberg, chief executive and founder of Lionheart Capital, said the company was “honored to welcome SMX to the Lionheart portfolio of diverse and exciting business endeavors”.

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Commenting on the deal, the firm added: “We are pleased to help Lionheart deliver an innovative transaction to its stockholders by leveraging the global resources of DLA Piper to address the many complex cross-jurisdictional issues raised.”