WISeKey signs a CHF 10 million investment with Swiss investment firm Nice & Green

WISeKey International Holding Ltd, a leading global cybersecurity and IoT company, has entered into an agreement for the issuance and subscription of convertible notes with Nice & Green SA. "The agreement provides WISeKey access to flexible financing at a reasonable cost during the current COVID-19 crisis and under current market conditions and will allow the Company to grow its operations in US, France and Germany. As part of the agreement, Nice & Green has undertaken to introduce WISeKey to its wide network of contacts in Switzerland, Germany, Belgium and France and to organize a non-deal roadshow for the Company," says Carlos Moreira, Founder and CEO of WISeKey. Nice & Green is owned and managed by two principals and capitalizes on establishing long term financial partnership with the companies it assists.

Under the terms of the Agreement, Nice & Green has committed to grant WISeKey loans, subject to certain conditions over a period of 25 months, up to a maximum principal amount of CHF 10 million. Pursuant to the terms of the Agreement, the principal amount of each such loan is repayable by way of conversion into Class B shares, par value CHF 0.05 each, of WISeKey (the “Class B Shares”). The conversion price is determined by reference to the 10-trading day volume weighted average price of Class B Shares on the SIX Swiss Exchange immediately preceding the conversion. The convertible note facility will be used to finance the expansion of the IoT operations in Europe mainly in US, Germany and France and may be drawn in tranches depending on the operational requirements and the opportunities for investments and M&A activities to expand the Company's geographical reach.