WISeKey will raise between CHF1.5m and CHF3.5m of cash from the first share draw down under the SSF by issuing new Class B Shares out of authorized share capital
Proceeds will be used to enter the U.S. market in Q4 2016 and Q1 2017
WISeKey can at its own discretion draw down up to CHF60m under the SSF with GEM
Zug, Switzerland, 28 October 2016, WISeKey International Holding Ltd (SIX: WIHN) (WISeKey” or the “Company”) announced today its first share draw down in line with the terms and conditions of the Share Subscription Facility (“SSF”) Agreement with Global Emerging Markets (“GEM”), expected to result in a direct cash equity contribution to the Company between CHF1.5m and CHF3.5m. In accordance with the terms of the SSF, the definitive subscription amount and number of Class B Shares expected to be issued out of the Company’s authorized share capital are expected to be determined by reference to the closing prices reported on SIX Swiss Exchange over the next 15-trading days and based on the election by GEM. As agreed on January 19, 2016 at the World Economic Forum in Davos, WISeKey can draw down up to a maximum of CHF60m over the 5 years.
This first draw down from the SSF is intended to be used to enter and/or expand WISeKey’s presence in the North American market via strategic acquisitions and to further reinforce WISeKey’s IoT Cybersecurity Platform in the U.S.
Carlos Moreira, Founder, Chairman and CEO of WIHN stated: “Since the beginning of 2016, we have been working diligently to identify and capture several growth opportunities in the U.S. and now we are ready to move forward in several fronts. The draw down will provide us with the necessary funds to finance our expansion strategy for Q4 2016 and Q1 2017 and prepare us for an anticipated listing in H2 2017 on the NASDAQ. Due to this SSF, the Company is financially well positioned to take advantage of additional substantial growth opportunities, organic and acquisition-driven, in the U.S. and international markets.”
WISeKey (SIX Swiss Exchange: WIHN) is a leading cybersecurity company and selected as a World Economic Forum Global Growth Company. WISeKey is currently deploying large scale Internet of Things (“IoT”) digital identity ecosystems and has become a pioneer of the “4th Industrial Revolution” movement launched this year at the World Economic Forum in Davos. 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. The RoT serves as a common trust anchor, which is recognized by the operating system and applications, to ensure the authenticity, confidentiality and integrity of on-line transactions. With the cryptographic RoT embedded on the device, the IoT product manufacturers can use code-signing certificates and a cloud-based signature as a service to secure interactions among objects and between objects and people. WISeKey has patented this process in the USA as it is currently used by many IoT providers.
For further information, please contact:
|WISeKey International Holding Ltd.Natalia Loboda
Investor Relations (Switzerland)
+41 44 575 2006
|The Equity Group, Inc.Lena Cati
Investor Relations (United States)
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.
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