|WISeKey secures equity financing of up to CHF 50 million|
ZUG, Switzerland – WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN), a leading Swiss cybersecurity and IoT company, today announced that it has entered into a Standby Equity Distribution Agreement (“SEDA”) with a fund managed by Yorkville Advisors Global, LLC (“Yorkville”). Under the terms of the SEDA, Yorkville has committed to provide WISeKey, upon a draw-down request by WISeKey, up to CHF 50 million in equity financing over a three-year period in tranches of up to CHF 1 million each or, if WISeKey provides a sufficient number of Class B Shares through share lending, up to CHF 5 million each. WISeKey will make its draw-downs either by using authorized share capital on a non-preemptive rights basis or treasury shares. The purchase price will be 93% of the relevant market price at the time of the draw-down, determined by reference to a five-day trading period following the draw down request by WISekey. WISeKey will pay a one-time commitment fee of CHF 0.5 million, at WISeKey’s election either in cash or Class B Shares.
“The SEDA provides us with the necessary financial flexibility to continue investing on our US operation expansion, which is key at this stage to further expand our market penetration and revenue generation,” said WISeKey CEO Carlos Moreira.
WISeKey (SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems with a patented process. 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.