WISeKey secures a short-term unsecured loan facility in an amount of USD 3.5 million from a fund managed by Yorkville Advisors Global, LLC; existing Standby Equity Distribution Agreement with Yorkville amended
ZUG, Switzerland, October 1, 2018 – WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN), a leading Swiss cybersecurity and IoT company, today announced that a fund managed by Yorkville Advisors Global, LLC (“Yorkville”) has agreed to make available, subject to certain conditions, a short-term unsecured loan facility in an aggregate amount of USD 3.5 million. In connection with the facility, WISeKey has further agreed with Yorkville to amend the existing Standby Equity Distribution Agreement (“SEDA”) under the terms of which Yorkville has committed to provide WISeKey, upon draw-down requests by WISeKey, up to CHF 50 million in equity financing over a three-year period. Under the amended terms, the maximum amount that can be drawn down by WISeKey in a single draw down has been increased.
“We welcome the continued commitment by Yorkville. The facility agreement and the SEDA will provide us with the necessary financial flexibility to continue investing on our operation expansion,” said WISeKey CEO Carlos Moreira.
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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.
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Press and investor contacts:
|WISeKey International Holding Ltd Company Contact: Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 [email protected]||WISeKey Investor Relations (US) Contact: Lena Cati The Equity Group Inc. Tel: +1 212 836-9611 [email protected]|
Disclaimer: 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.