WISeKey International, a Swiss cybersecurity and IoT company, and ExWorks Capital have agreed to amend WISeKey’s existing acquisition line of credit agreement, extending the maturity date to January 16, 2020 and reducing the interest rate from 1.5% per month to 1% per month.
Chicago-based ExWorks continues to have the right to convert, at its option, the term loans, including any potential increase(s), together with any interest accrued and fees payable in connection therewith, including the extension of the maturity, in WISeKey class B shares. The applicable conversion price remains unchanged and corresponds to $4.74.
The facility can be up-sized or syndicated at the same terms for up to an additional $10 million by way of adding co-lender(s) or selling a participation interest.
ExWorks Capital is an international import and export finance company.
