Lionheart SPAC Is Said to Discuss a Deal With Security Matters

According to people with knowledge of the matter, Lionheart III Corp. has held talks with Security Matters.

One of the people who requested anonymity discussing confidential negotiations said Lionheart was in talks with backers of a potential private investment in public equity, or PIPE, for a deal that would provide growth capital to Security Matters. There is a possibility of talks collapsing because a transaction hasn't been finalized.

Representatives for Lionheart and Security Matters did not respond.

Lionheart raised $125 million in an initial public offering last year. Lionheart SPACs have agreed to deals before.

Ed Hofland and Haggai Alon are the CEO and Chairman of Security Matters, which is based in Israel. The company says its products can help hold supply-chain integrity and provide quality assurance and brand accountability to producers of goods.

Security Matters said earlier this month that it was negotiating a listing on the stock exchange.

With assistance by Harry.