WISeKey International Announces That It Has Signed Convertible Notes Subscription Agreements For Up To $30M, Via Private Placements With A Select Group Of Institutional Investors
Portfolio Pulse from Benzinga Newsdesk
WISeKey International has signed agreements for up to $30 million in convertible notes with institutional investors. The initial issuance is $2.5 million, with potential for additional tranches. The notes are convertible into Class B shares at a variable price.
October 23, 2024 | 4:07 pm
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WISeKey International has secured up to $30 million through convertible notes, initially issuing $2.5 million. This funding could support growth and innovation, potentially impacting stock prices.
The convertible notes provide WISeKey with significant capital, which can be used for growth and innovation. The conversion feature may lead to stock dilution, but the immediate capital infusion is likely positive for short-term stock price.
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