WISeKey Releases CEO Letter to Shareholders
GENEVA & ZUG, Switzerland – WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN), a leading cybersecurity and IoT company, today released a letter to shareholders from Carlos Moreira, Founder and CEO.
As CEO of WISeKey, I am pleased to take this opportunity to update on our current operations and progress made related to the proposed listing of WISeKey’s American Depositary Shares (ADRs) on a major U.S. stock exchange.
As previously announced, on October 30, 2019 we publicly filed a Form 20-F registration statement with the Securities and Exchange Commission (SEC) relating to the proposed listing of WISeKey’s ADRs on a major U.S stock exchange. A registration statement is a document, which a company must file with the SEC before it proceeds with the listing of its shares on a U.S. stock exchange. As announced, no new securities will be issued in connection with the listing, which is expected to commence after the SEC completes its review process.
I am pleased to inform you that WISeKey’s board of directors has received and reviewed offers from NYSE and NASDAQ and we are in the process of selecting the best platform that will provide us with the highest global media visibility and trading liquidity. Currently, we are awaiting to receive the final clearance from the SEC; once received, we will be ready to proceed with the listing.
Listing of our ADRs on a major U.S. exchange comes on the heels of a record 2019 first half, in terms of net income (of $21.8 million), bolstered by the refocus of our efforts on cybersecurity/IoT market and a larger footprint in the U.S.
WISeKey’s strong financial position of $19.2 million cash and restricted cash at September 30, 2019, supports investments in new products, IP and faster-growing IoT/Cybersecurity markets. During 2019, we have made significant investments in R&D in order to maintain our leading-edge technology position and the competitive advantage of our product offerings. We recently developed NanoSealRT, the only NFC Forum Type 5 chip that works with both Android and IOS 12 devices, which will further reinforce our position as a major IoT player.
We also expanded our sales force to take advantage of higher demand for strong security, authentication, brand protection and anti-counterfeiting services for segments such as connected devices, connected cars, luxury products, pharmaceuticals and banking/financial sector.
WISeKey’s global expansion, particularly in North America, China and Saudi Arabia, is built on a clear vision and business strategy and driven by unique and comprehensive offerings able to generate revenue from IoT devices, cybersecurity services, data analysis and more importantly our Trusted Ecosystem and Vertical Platforms.
Due to a solid 2020-2023 Cybersecurity/IoT revenue pipeline of over $250 million, and our growth strategy that includes additional investments and increased marketing efforts, we believe that we have positioned WISeKey well to take advantage of several growth opportunities, create new revenue streams and continue its growth organically and through acquisitions.
We are committed to building long-term value for our shareholders.
Founder and CEO
WISeKey International Holdings
WISeKey (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 Secures 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.
|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.