WISeKey International Holdings inc [NASDAQ: WKEY] declared that the company has inked a contract with Alpha Blue Ocean. Moreover, The agreement is a $15.5 Million high growth capital investment. The company signed it for the issuance and subscription of convertible notes to finance the acquisition of Arago and the integration of AI on its cybersecurity platform.
Alpha Blue will provide financing. However, subject to certain conditions the company will take $15.5M in 18 months. Under the agreement terms, the principal amount of each loan is repayable by conversion into a class B share of WISeKey.
“WISeKey will have access to adaptable financing at a fair cost amid the covid situation provided by this agreement. Furthermore, it will also permit the company to purchase Arago and raise its profits and market share. “ stated Carlos Moriera CEO WISeKey.