15 December 2019 – LSI, a leading Asian based investor, and WISeKey entered into an investment agreement under which LSI has agreed to invest approximately USD 1,000,000 in WISeKey, by subscribing for new Class B Shares at an issue price of USD 2.64, such price reflecting a premium over current trading prices. Further, LSI has agreed to provide WISeKey a CHF 30 million unsecured convertible term loan facility to support WISeKey’s expansion in Asia. Under the terms of the convertible term loan facility agreement, WISeKey will be able to draw-down individual term loans of up to CHF 500,000 or, if so agreed between the parties, up to CHF 2.5 million at an interest rate of 1.5% p.a., up to an aggregate amount of CHF 30 million over a commitment period of 24 months. LSI will have the right to convert a draw-down tranche into Class B Shares after each individual draw-down, or, if so agreed among the parties and permitted by law, American Depositary Shares (ADS) representing Class B Shares.

Walder Wyss advised LSI in connection with the investment agreement and the convertible term loan facility agreement. The team has been led by Alex Nikitine (Partner, Corporate/M&A) and included Dominik Aerni (Associate, Corporate/M&A).