WISeKey Secures $30 Million in Convertible Notes Financing Deal

WISeKey International Holding Ltd, a Swiss-based cybersecurity company, has secured $30 million in convertible notes subscription agreements with a select group of institutional investors. The funding will support the growth and development of WISeKey’s core cybersecurity business and strategic initiatives, including its subsidiary WISeSat.Space, which is focused on deploying a low-orbit satellite constellation by 2027 using cutting-edge technological innovations.

Additionally, the financing will aid in the launch of SEALSQ’s next-generation post-quantum semiconductors in 2025 and support ongoing work on SEALCOIN, with a second Proof of Concept set for January 2025. Carlos Moreira, Founder and CEO of WISeKey, noted that this new funding provides flexible financing at a competitive cost, enabling the company to continue its innovative work in cybersecurity, digital identity, blockchain, Internet of Things (IoT) solutions, and post-quantum semiconductors. Maxim Group LLC served as the sole placement agent for these private placements.

WISeKey Secures $30 Million in Convertible Notes Subscription Agreements

WISeKey International Holding Ltd., a Swiss-based computer infrastructure company specializing in cybersecurity, digital identity, blockchain, Internet of Things (IoT) solutions, and post-quantum semiconductors, has signed Convertible Notes Subscription Agreements with a select group of institutional investors for up to $30 million. This financing will provide WISeKey with flexible funding at a competitive cost, enabling the company to continue investing in its core cybersecurity business and strategic initiatives.

The agreements allow WISeKey to issue convertible notes in the aggregate principal amount of $2,500,000, with the option to request additional tranches of up to $1,250,000 each from the investors. The convertible notes have a maturity date of 12 months after the relevant issue date and can be converted into WISeKey Class B Shares at any time at the election of the investors. The conversion price is equal to the lower of a fixed conversion price as determined in the agreements and 94% of the lowest daily Volume-Weighted Average Prices (VWAPs) of one Class B Share during the ten consecutive trading days preceding the relevant conversion date.

Funding Strategic Initiatives

The secured funding will support WISeKey’s ongoing work on several strategic initiatives, including the development of its low-orbit satellite constellation, WISeSat.Space. The company aims to deploy this constellation by 2027, leveraging cutting-edge technological innovations. Additionally, the financing will enable WISeKey to continue investing in SEALSQ, which is on track to launch its next-generation post-quantum semiconductors in 2025.

Furthermore, the funding will support WISeKey’s work on SEALCOIN, with a second Proof of Concept set for January 2025. This demonstration will showcase the transfer of tokens via satellite to IoT devices, accelerating the token’s broader availability on digital exchanges in 2025.

Post-Quantum Semiconductors and Future-Proofing Security Solutions

WISeKey’s work with post-quantum semiconductors is aimed at future-proofing its security solutions against the threats posed by quantum computing. These advanced semiconductors support encryption that can withstand the computational power of quantum computers, ensuring the long-term security of connected devices and critical infrastructure.

Combined with its expertise in blockchain and IoT, WISeKey’s post-quantum technologies provide a robust foundation for secure digital ecosystems at the hardware, software, and network levels. This focus on future-proofing security solutions is critical in today’s rapidly evolving cybersecurity landscape.

Disclaimer and Forward-Looking Statements

This communication 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.