WISeKey extends commitment term of its CHF 50 million equity financing and increases amount available under a short-term unsecured loan facility with Yorkville Advisors

Baker McKenzie Zurich has advised Yorkville Advisors Global, LP, a US-based investment firm offering debt and equity financing to global, small and micro-cap companies, on all legal aspects of the extension of the commitment term under a CHF 50 million Standby Equity Distribution Agreement (SEDA) from three to five years, ending February 2023, as well as on the establishment of a short-term unsecured loan facility in an aggregate amount of US$ 4 million.

Under the US$ 4 million loan facility (which replaces the existing US$ 3.5 million facility signed in October 2018), Yorkville has the right to convert the outstanding loan amount or any portion thereof into Class B Shares of WISeKey. The initial conversion price, subject to customary adjustments, is CHF 3.00.

Baker McKenzie acted as global lead counsel to Yorkville Advisors in this transaction and provided comprehensive legal and structuring advice. The Baker McKenzie team was led by Matthias Courvoisier (Partner, Capital Markets) and Philip Spoerlé (Senior Associate, Capital Markets) and further comprised Tanja Schmid (Associate, Capital Markets).