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 Yorkv...
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.
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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