Discussions with OpenLimit regarding a possible merger transaction not being further pursued
Zug / Geneva, 29 March 2017: WISeKey International Holding Ltd (SIX: WIHN) (“WISeKey“) announced today that the respective boards of directors of WISeKey and OpenLimit Holding AG (DE: O5H) (“OpenLimit“) have decided that discussions in relation to a possible merger transaction between WISeKey and OpenLimit as previously announced on 25 July 2016 are not being further pursued. The current interim financing provided by WISeKey to OpenLimit in a principal amount of EUR 750,000 will, in accordance with applicable terms of a convertible loan agreement, be converted into OpenLimit Shares issued by OpenLimit out of its existing authorized share capital. The conversion price will be €0.3736, being 95% of the volume weighted average price (“VWAP“) of the OpenLimit shares traded on XETRA as reported by the XETRA for the ten trading days immediately preceding and including 29 March 2017. WISeKey will thus receive 2,007,494 newly issued fully fungible listed OpenLimit Shares representing – post issuance of these new shares – a 8.4% stake in OpenLimit on an issued share basis.
WISeKey is a leading cybersecurity company currently deploying large scale Internet of Things (“IoT”) digital identity ecosystems and has become a pioneer of the 4th Industrial Revolution movement. WISeKey’s Swiss based Cryptographic Root of Trust (“RoT”) integrates wearable technology with secure authentication and identification, in both physical and virtual environments, and empowers IoT and wearable devices to become secure transactional devices. WISeKey has patented this process in the USA as it is currently used by many IoT providers.
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