WISeKey Completes $5 Million Private Placement

Under the terms of the Convertible Loan Agreement, Crede will grant WISeKey a loan in the principal amount of USD 5 million. “WISeKey is entering into an exciting phase of development. This convertible loan facility will be used to finance the expansion of existing IoT operations in US, new opportunities and possible M&A activities, aiming to expand the technology portfolio of the company,” said Carlos Moreira, Founder and CEO of WISeKey.

Pursuant to the terms of the Convertible Loan Agreement, the principal amount is repayable by way of conversion into registered shares of WISeKey (the "Class B Shares"), with a par value of CHF 0.05 each. 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, which may occur at any time prior to the maturity of the loan on August 4, 2022. WISeKey fully repaid its previous Convertible Loan under the relevant agreement with Crede dated September 26, 2018 amounting to USD 3 million.

Crede Capital Group is Terren Pelzer’s personal investment vehicle in public equities, with offices in Los Angeles, New York and Singapore. Crede is a long-only investor and has completed more than 60 investments in emerging growth companies in eleven countries on four continents, providing both growth capital as well as business support. Since its 2009 inception, Crede has completed approximately 115 transactions committing in excess of $900 Million in capital.