WISeKey Publishes Timeline of the Reverse Stock Split
GENEVA (June 27, 2023) – WISeKey International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, AI, Blockchain, and semiconductors company, today announced the timeline of the previously announced reverse stock split of its Class B shares listed on the SIX Swiss Exchange. The reverse stock split was approved by shareholders at the Annual General Meeting held on June 22, 2023.
- June 29, 2023: Last trading day of old Class B shares (on a pre-reverse stock split basis) on SIX Swiss Exchange (ISIN CH0314029270)
- June 30, 2023 (the “ex-date”): First trading day of new Class B shares (on a post-reverse stock split basis) on SIX Swiss Exchange (ISIN CH1276062754)
The reverse stock split of Class B shares may result in fractions of new Class B shares for the individual shareholder. This is the case if shareholders hold an amount of WISeKey Class B shares that is not divisible by 50 or a multiple thereof. The resulting fractions in new Class B shares are rounded down to the next whole number and shareholders will be compensated for such fractions in cash at a fixed price per share corresponding to a three-day volume-weighted average price of the WISeKey Class B Shares on the SIX Swiss Exchange prior to the ex-date of the reverse stock split.
For WISeKey’s Class A shares (which are not listed and traded on the SIX Swiss Exchange), a reverse stock split in the ratio of 25 old Class A shares into 1 new Class A share has been effected, in accordance with the shareholder approval obtained at the 2023 Annual General Meeting. Any resulting fractions of new Class A shares will be rounded down to the next whole number without compensation.
Additional information about the reverse stock split is provided in a Q&A available at https://www.wisekey.com/company/investors/.
WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) 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 the Swiss Financial Services Act (“FinSA”), the FInSa’s predecessor legislation or advertising within the meaning of the FinSA. 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.