WISeKey to Draw Down on the GEM Share Subscription Facility
Zug, Switzerland – December 01, 2017 – WISeKey International Holding Ltd (SIX: WIHN) (WISeKey” or the “Company“), a leading cybersecurity and IoT company, announced today the delivery of a share draw-down notice in line with the terms and conditions of the Share Subscription Facility Agreement (“SSF“) with Global Emerging Markets (“GEM“), as previously announced. Under the terms of the SSF, any definitive draw-down could, subject to various variables, result in an issuance of between 200,000 and 800,000 new Class B Shares to GEM, depending on elections of GEM. In accordance with the terms of the SSF, the definitive subscription price and number of Class B Shares to be issued out of the Company’s existing authorized share capital are determined by reference to 90% of the average of the closing bid prices reported on the SIX Swiss Exchange over the next 15-trading days. Any trading day on which the relevant share price is below the minimum price of CHF 5.60 per Class B Share will reduce the number of Class B Shares issuable to GEM and will be disregarded for the calculation of the subscription price.
This draw down from the SSF is intended to be used, among other things, to finance the implementation of a sponsored ADR-trading on a U.S. Stock Exchange.
WISeKey (SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying via a Virtual Platform large scale digital identity ecosystems. WISeKey’s Swiss based cryptographic RoT and IoT Microchips provide 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.