December 17, 2019 / 6:14 AM / a month ago

BRIEF-WISeKey Announces Equity Financing Agreement With Long State Investment

Dec 17 (Reuters) - WISEKEY INTERNATIONAL HOLDING AG :

* ANNOUNCES AN EQUITY FINANCING AGREEMENT WITH LSI

* UNDER ARRANGEMENT, WISEKEY AND LSI PLAN TO ESTABLISH A JOINT VENTURE IN HONG KONG IN Q1 OF 2020 TO FOCUS ON BUSINESS OPPORTUNITIES IN ASIA

* LSI HAS FURTHER AGREED TO INVEST APPROXIMATELY USD 1,000,000 DIRECTLY OR THROUGH WISEKEY INTO JV

* LSI HAS ALSO AGREED TO PROVIDE WISEKEY A CHF 30 MILLION UNSECURED CONVERTIBLE TERM LOAN FACILITY TO SUPPORT WISEKEY’S EXPANSION IN ASIA

* LSI TO INVEST INTO JV BY SUBSCRIBING, ON A NON-PREEMPTIVE BASIS, FOR NEW CLASS B SHARES AT AN ISSUE PRICE OF USD 2.64 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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