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BRIEF-WISeKey: talks with OpenLimit on possible merger not being further pursued
March 30, 2017 / 5:55 AM / in 4 months

BRIEF-WISeKey: talks with OpenLimit on possible merger not being further pursued

1 Min Read

March 30 (Reuters) - WISeKey International Holding Ltd :

* On Wednesday WISeKey announced that the respective boards of directors of WISeKey and OpenLimit Holding AG have decided that discussions in relation to a possible merger transaction between WISeKey and OpenLimit as previously announced on July 25, 2016 are not being further pursued

* Current interim financing provided by WISeKey to OpenLimit in a principal amount of 750,000 euros ($806,400.00) will, in accordance with applicable terms of a convertible loan agreement, be converted into OpenLimit Shares issued by OpenLimit out of its existing authorized share capital

* Conversion price will be 0.3736 euro

* WISeKey will thus receive 2,007,494 newly issued fully fungible listed OpenLimit shares representing – post issuance of these new shares – a 8.4 percent stake in OpenLimit on an issued share basis

Source text - bit.ly/2ojC6RD

Further company coverage: ($1 = 0.9301 euros) (Gdynia Newsroom)

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