WISeKey International Holding AG American Depositary Shares - WKEY STOCK NEWS

WISeKey shareholders approved all resolutions of the Extraordinary General Meeting. The spin-off of WISeKey's semiconductor business by way of a dividend in kind consisting of Ordinary Shares in SEALSQ Corp was approved. Shareholders also approved an amendment to the Company's Articles of Association. Distribution of the extraordinary dividend in kind is expected to occur on or about May 31, 2023. SEALSQ Ordinary Shares are expected to begin trading on the Nasdaq Global Market starting on or around May 26, 2023 under the ticker “LAES.”

WISeKey has appointed Ken Chen as the new Director of Sales for Taiwan, effective immediately. This strategic move aims to bolster WISeKey's expansion in Asia, specifically targeting Taiwan's OEMs and ODMs involved in manufacturing electronic equipment such as IoT devices. Chen brings over 20 years of experience in sales and channel management within the semiconductor and telecom sectors, having previously led the sales team at Maxim Integrated in Taiwan. His expertise is expected to enhance business opportunities for WISeKey globally. WISeKey operates on a foundation of advanced cybersecurity technologies, focusing on creating large-scale digital identity ecosystems for IoT, AI, and Blockchain.

WISeKey International Holding (NASDAQ: WKEY) has announced its initiative to support the NGO Nuevo Hogar Betania through NFT sales. The project, in collaboration with OISTE, aims to create limited edition NFTs featuring AI-generated art and traditional artwork donated by various artists. Proceeds will aid Nuevo Hogar Betania, which focuses on protecting women from prostitution and trafficking, offering essential support in gender violence prevention and awareness. The NGO reported 784 instances of care for women and minors in its last financial year, highlighting its impactful work. The NFTs can be purchased through the WISe.ART platform, promoting both art and social causes.

WISeKey Semiconductors (formerly SEALSQ Corp) reported its FY 2022 audited financial results, showing net sales of $23.2 million, a 36% increase from FY 2021. The company also achieved a net income of $5.8 million compared to a loss of $4.8 million the previous year, and EBITDA of $3.0 million, recovering from a loss of $3.5 million. Factors driving this growth include strong demand for semiconductors and a robust product pipeline valued at $100 million, alongside a backlog of $36 million. Looking ahead, WISeKey anticipates approximately 25% revenue growth in FY 2023, projecting sales of around $30 million.

WISeKey International Holding (NASDAQ: WKEY) has announced advancements in cybersecurity and the performance of post-quantum semiconductors through the application of AI. This innovation aims to optimize the design and accelerate the discovery of new semiconductor materials, enhancing quantum device functionalities. The integration of AI facilitates advanced threat detection, anomaly detection, and automated responses, improving security protocols against cyber threats. Potential applications for these semiconductors include quantum computing, cryptography, quantum sensing, quantum communications, and quantum machine learning. WISeKey leverages its extensive microprocessor network to drive growth in the Internet of Things sector and aims to provide a robust cybersecurity framework.

WISeKey International Holding Ltd. has appointed Alvise Giustiniani to its advisory board as of April 12, 2023. Mr. Giustiniani brings over 30 years of executive experience, primarily from Philip Morris International, where he served as VP of Anti-illicit Trade, overseeing a global initiative with a $100 million pledge against illegal trade. He has a proven track record in managing large teams and significantly improving profitability during his tenure in various leadership roles. His expertise in cybersecurity and IoT will be valuable as WISeKey aims to enhance its global presence. CEO Carlos Moreira expressed confidence in Mr. Giustiniani's ability to contribute to the company's mission of securing the Internet of Things and combating counterfeiting.

WISeKey International Holding Ltd. (NASDAQ: WKEY) announced its partnership with IMProduction and the DREAM Team Project to support the International Red Cross's 'Human Race for Children of Ukraine' campaign. The initiative will showcase historically important NFTs, with proceeds aiding Ukrainian children affected by the war. Key items include a signed Apple II schematic by Steve Wozniak and posters signed by renowned artists. WISe.ART, the company's NFT marketplace, is facilitating this effort, ensuring that 100% of proceeds go to humanitarian projects. The platform focuses on quality, security, and societal benefit, aiming to raise awareness and funds for environmental projects. This collaboration highlights WISeKey's commitment to leveraging technology for charitable impacts.

WISeKey International Holding Ltd will hold an Extraordinary General Meeting on April 27, 2023, recommending shareholders vote "FOR" proposals including a special dividend distribution of 20% of its subsidiary SEALSQ ordinary shares. The dividend will be paid in kind based on a specific distribution ratio and is subject to conditions. To avoid Swiss federal withholding tax, adjustments to capital reserves are proposed. Additionally, amendments to Articles of Association are suggested for future hybrid meetings. Participation instructions will be sent to registered shareholders.