Pestalozzi advises global institutional investors in $ 44m equity linked investment in WISeKey
Pestalozzi advises global institutional investors in connection with up to $ 44,000,000 equity linked investment in WISeKey International Holding listed at SIX Swiss Exchange and with ADS traded at Nasdaq. The investment is structured in two convertible note subscription agreements and relevant warrant agreements.
The Pestalozzi team was led by Christian Leuenberger (lead partner – capital markets / m&a, pictured), Jonas Sigrist (partner – tax), Philipp Wehrli (corporate services)
Under the terms of both convertible notes subscription agreements with similar terms, WISeKey will issue an initial convertible note in the aggregate principal amount of $22,000,000 for subscription by the investors. Additionally, WISeKey has the right to request the Investors to subscribe for four additional notes tranches, each in the aggregate principal total amount of $5,500,000, at the date and time determined by WISeKey.
The Inventors are obliged to subscribe to each additional note tranche provided the daily VWAP for Issuer Shares remains at or above 130% of the applicable fixed conversion price for a period of 30 consecutive trading days during the period immediately preceding the date on which the Issuers submits to the Investor the subscription notice.
