WISeKey Extends Commitment Term of its CHF 50 Million Equity Financing with Yorkville until February 2023; Increases Amount Available Under the Short-term Unsecured Loan Facility
ZUG, Switzerland – WISeKey International Holding Ltd (“WISeKey”) (SIX Swiss Exchange: WIHN, NASDAQ: WKEY), a leading Swiss cybersecurity and IoT company, today announced that a fund managed by Yorkville Advisors Global, LLC (“Yorkville”) has agreed to extend the commitment term under the CHF 50 million Standby Equity Distribution Agreement (SEDA) from three to five years, ending February 2023.
Yorkville has further agreed to make available, subject to certain conditions, a short-term unsecured loan facility in an aggregate amount of USD 4 million. The USD 4.0 million loan facility replaces the existing USD 3.5 million facility signed in October 2018; the funds drawn under the previous facility will be rolled over into the new facility. Yorkville has the right to convert the outstanding loan amount or any portion thereof into Class B Shares. The initial conversion price, subject to customary adjustments, is CHF 3.00.
WISeKey (SIX: WIHN, NASDAQ: WKEY) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey microprocessors secure the pervasive computing shaping today’s Internet of Everything. WISeKey IoT has an install base of over 1.5 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.). WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications to predict the failure of their equipment before it happens.
Our technology is Trusted by the OISTE/WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) provides secure authentication and identification, in both physical and virtual environments, for the Internet of Things, Blockchain and Artificial Intelligence. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people. For more information, visit www.wisekey.com.
Press and investor contacts:
|WISeKey International Holding Ltd|
Company Contact: Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
|WISeKey Investor Relations (US)|
Contact: Lena Cati
The Equity Group Inc.
Tel: +1 212 836-9611
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.