WISeKey International Holding Ltd announced that it has obtained a USD 16.4 m secured line of credit facility (the “Credit Facility”) for acquisition financing with maturity up to 18 months from ExWorks Capital, a U.S. private debt fund specializing in international trade and working capital financing.
Draw-down from the Credit Facility is subject to closing conditions, including the grant of options to ExWorks exercisable for up to 1,075,000 registered shares and the execution of security agreements relating to shares of certain of the company’s subsidiaries and certain other assets.
The Credit Facility can be up-sized | syndicated at the same terms for up to an additional USD 10 m by way of adding co-lender(s) or selling a participation interest.
Homburger advised WISeKey with respect to Swiss law with a team led by partners David Oser (Corporate | M&A) and Daniel Haeberli (Financial Services), associates Rafael Zemp (Corporate | M&A), Mario Wälti (Corporate | M&A) and David Borer (Financial Services).
Law Firms: Homburger;