ZUG, Switzerland--(BUSINESS WIRE)--WISeKey International Holding Ltd (SIX: WIHN) (WISeKey” or the “Company”) announced today its 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 250,000 and 1,000,000 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 expected 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, disregarding any trading day on which the relevant share price is below a minimum price elected by WISeKey.
This draw down from the SSF is intended to be used, among other things, to enter and/or expand WISeKey’s presence in the North American market to further reinforce WISeKey’s business.
WISeKey is a worldwide leading Cybersecurity company. Since its foundation in 1999, WISeKey has provided specialized technologies for data protection and effective identification and authentication of people and objects to ensure secured communications and transactions without compromising trust. WISeKey runs its own Root of Trust Cybersecurity platform and identity-based data security solutions for international organizations, governments, enterprises, and consumers spanning 102 countries. In 2015 its Root of Trust based security was embedded in over 2.6 billion browsers, sensors and wearables. WISeKey also offers the industry’s trusted suite of IoT security products using the fact that authentication is becoming an increasingly important Cybersecurity IoT consideration. WISeKey, listed at the SIX Swiss Exchange, is headquartered in Geneva (Switzerland) and has a second operational hub in the U.S.
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.