WISeKey and ExWorks agree on amendments to the Existing Acquisition Line of Credit Agreement
ZUG, Switzerland - WISeKey International Holding Ltd ("WISeKey") (SIX: WIHN), a leading Swiss cybersecurity and IoT company, today announced that WISeKey and ExWorks have agreed on amendments to the existing acquisition line of credit agreement (the "Credit Facility"), including an extension of the maturity date of the loans drawn under the Credit Facility to January 16, 2020 from January 15, 2019 and a reduction in the interest rate from 1.5% per month to 1% per month. ExWorks continues to have the right to convert, at its option, the term loans, including any potential increase(s), together with any interest accrued thereon and fees payable in connection therewith, including the extension of the maturity, in WISeKey Class B shares. The applicable conversion price remains unchanged and corresponds to USD 4.74.
As previously announced, the Credit Facility can be up-sized or syndicated at the same terms for up to an additional USD 10.0 million by way of adding co-lender(s) or selling a participation interest.
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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About ExWorks Capital (www.exworkscapital.com)
ExWorks Capital, headquartered in the USA, is an international, import and export finance company that offers financing solutions to businesses utilizing its own capital as well as by leveraging its Delegated Authority granted by both the SBA and ExIm Bank.
ExWorks Capital's offerings include:
Export and Import Trading - ExWorks can provide between $500,000 and $25,000,000 per trade to suppliers that need the funds to be able to purchase goods for sale to international buyers, thereby eliminating the need to raise equity in order to fulfil international sales contracts.
Working Capital Financing - ExWorks can provide International Trade Receivable and Inventory Revolvers, including advancing on Raw Materials, WIP and Finished Goods, between $1,000,000 and $25,000,000.
Term Loan Financing - ExWorks can provide Term Loans between $10,000,000 and $100,000,000 to Foreign Customers.
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.
Source:Wisekey International Holding SA