WISeKey‘s ADS Reverse Split to Become Effective on June 23, 2022
WISeKey International Holding Ltd. announced a 1-for-2 reverse split of its American Depository Shares (ADS) effective June 23, 2022. Post-split, 1 ADS will represent 10 Class B common shares. The reverse split aims to adjust the share price for enhanced marketability. This change affects the number of shares held by ADS holders after the market closes on June 22, 2022. WISeKey is a global leader in cybersecurity and IoT, emphasizing digital identity ecosystems.
- The reverse split may enhance share price visibility and marketability.
- WISeKey is positioned as a leader in cybersecurity and IoT, with a substantial install base of over 1.6 billion microchips.
- Reverse stock splits can indicate underlying issues with stock performance.
- Potential dilution of shares for existing ADS holders.
WISeKey‘s ADS Reverse Split to Become Effective on June 23, 2022
Geneva, Switzerland, June 22, 2022 – Ad-Hoc announcement pursuant to Art. 53 of SIX Listing Rules– WISeKey International Holding Ltd. (NASDAQ: WKEY / SIX: WIHN) (“WISeKey” or the “Company” or the “Group”), a leading cybersecurity and IoT company, announced today that its previously announced 1-for-2 reverse split of American Depository Shares (“ADS”) listed on the NASDAQ under the ticker “WKEY” will become effective on June 23, 2022, and the ADSs will start trading under the new share price.
Under the current ratio, 1 ADS represents 5 Class B common shares listed on the Swiss Stock Exchange which means that, post-split 1 ADS will represent 10 Class B common shares.
The number of shares owned by ADS holders will be adjusted after the closing bell on Wednesday, June 22, 2022.
About WISeKey
WISeKey (NASDAQ: WKEY; SIX Swiss Exchange: WIHN) is a leading global cybersecurity company currently deploying large scale digital identity ecosystems for people and objects using Blockchain, AI and IoT respecting the Human as the Fulcrum of the Internet. WISeKey microprocessors secure the pervasive computing shaping today’s Internet of Everything. WISeKey IoT has an install base of over 1.6 billion microchips in virtually all IoT sectors (connected cars, smart cities, drones, agricultural sensors, anti-counterfeiting, smart lighting, servers, computers, mobile phones, crypto tokens etc.). WISeKey is uniquely positioned to be at the edge of IoT as our semiconductors produce a huge amount of Big Data that, when analyzed with Artificial Intelligence (AI), can help industrial applications predict the failure of their equipment before it happens.
Our technology is Trusted by the OISTE/WISeKey’s Swiss based cryptographic Root of Trust (“RoT”) provides secure authentication and identification, in both physical and virtual environments, for the IoT, Blockchain and AI. The WISeKey RoT serves as a common trust anchor to ensure the integrity of online transactions among objects and between objects and people. For more information, visit www.wisekey.com.
Press and investor contacts:
| WISeKey International Holding Ltd Company Contact: Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 info@wisekey.com | WISeKey Investor Relations (US) Contact: Lena Cati The Equity Group Inc. Tel: +1 212 836-9611 lcati@equityny.com |
Disclaimer:
This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.
FAQ
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