SEALSQ Corp Boosts Semiconductor Development with $25 Million Public Offering
SEALSQ Corp aims to accelerate its semiconductor technology advancements through a substantial share offering.
SEALSQ Corp’s Offering Details
Headquartered in Geneva, SEALSQ Corp has initiated a public offering, planning to sell 13,157,896 ordinary shares at $1.90 each, which should net the company about $25 million before any expenses. This capital will be directed towards the development of cutting-edge post-quantum semiconductor technology while also supporting various corporate needs. Maxim Group LLC is orchestrating the offering, expected to close around December 19, 2024, contingent upon standard closing requirements. This offering is part of an effective shelf registration statement with the SEC, complying with regulatory standards. SEALSQ focuses on creating secure hardware and software solutions in semiconductors, PKI, and post-quantum tech, anticipating threats from quantum computing advancements.
Benefits of the Offering
- The public offering is projected to significantly bolster SEALSQ Corp’s finances, promoting future growth.
- Funds raised will specifically target the development of advanced post-quantum semiconductor technology, positioning the company well within a burgeoning market.
- The participation of institutional investors in this offering indicates a strong belief in SEALSQ’s business strategy and future potential.
- Compliance with SEC regulations through an effective registration statement showcases the company’s readiness to engage with investors.
Challenges Ahead
- The offer price of $1.90 per share is notably lower than previous trading levels, which raises concerns about the company’s stock performance.
- The adoption of a securities purchase agreement could imply financial struggles, sparking worries regarding SEALSQ’s stability.
- Forward-looking statements outline risks and uncertainties that may hinder SEALSQ’s operational strategies and growth trajectories.
Frequently Asked Questions
What is SEALSQ Corp’s recent public offering?
SEALSQ Corp has announced plans to offer 13,157,896 ordinary shares at a price of $1.90 each, aiming for total gross proceeds of $25 million.
How will SEALSQ use the funds from the offering?
The raised capital will finance the deployment of their next-generation post-quantum semiconductor technology, along with supporting working capital and general corporate functions.
When is the expected closing date for the offering?
The offering is anticipated to close on or around December 19, 2024, pending conventional closing conditions.
Who is the placement agent for the offering?
Maxim Group LLC serves as the exclusive placement agent for SEALSQ’s offering.
What areas does SEALSQ specialize in?
SEALSQ specializes in hardware and software for semiconductors, PKI, and post-quantum technology across various applications.
Disclaimer: This summary is derived from a press release distributed by GlobeNewswire. The AI model used may have inaccuracies. For full details, see the original release.
Hedge Fund Activity in $LAES
Recent reports indicate that 1 institutional investor has added shares of $LAES stock to their portfolio, while 8 have reduced their holdings during the latest quarter.
Notable changes include:
- ANSON FUNDS MANAGEMENT LP divested 649,533 shares (-100.0%) in Q3 2024.
- XTX TOPCO LTD reduced their stake by 25,589 shares (-100.0%) in Q3 2024.
- CUBIST SYSTEMATIC STRATEGIES, LLC cut 20,457 shares (-100.0%) in Q2 2024.
- TWO SIGMA SECURITIES, LLC decreased their holdings by 16,849 shares (-100.0%) in Q3 2024.
- JANE STREET GROUP, LLC increased its position by 15,663 shares (+inf%) in Q3 2024.
- VIRTU FINANCIAL LLC sold off 11,662 shares (-100.0%) in Q3 2024.
- STRATEGIC INVESTMENT SOLUTIONS, INC. /IL removed 7,299 shares (-100.0%) in Q2 2024.
To monitor hedge fund activities, check the Quiver Quantitative institutional holdings dashboard.
Full Release
Geneva, Switzerland, Dec. 17, 2024 (GLOBE NEWSWIRE) —
SEALSQ Corp (NASDAQ: LAES) announced a securities purchase agreement with institutional investors for 13,157,896 ordinary shares at a public offering price of $1.90, targeting gross proceeds of $25 million before commissions and expenses.
Maxim Group LLC is the sole placement agent for this offering.
SEALSQ aims to utilize the net proceeds to support the advancement of its post-quantum semiconductor technology and ASIC capabilities in the U.S., alongside working capital and general purposes. The offering is scheduled to close on or about December 19, 2024, pending typical closing conditions.
This offering is backed by an effective shelf registration statement (File No. 333-283358) recognized by the U.S. Securities and Exchange Commission (SEC) on November 27, 2024. A prospectus supplement regarding the securities involved in this offering will be filed with the SEC. Copies can be acquired from the SEC’s website at www.sec.gov or by representing contact with Maxim Group LLC at 300 Park Avenue, 16th Floor, New York, NY 10022, Attention: Syndicate Department, via email at syndicate@maximgrp.com, or by phone at (212) 895-3745.
This communication does not constitute an offer to sell or solicitation for an offer to buy the securities and should not be considered an unlawful sale prior to necessary registration or qualification under securities laws.
About SEALSQ:
SEALSQ focuses on providing integrated solutions involving semiconductors, PKI, and provisioning services while advancing post-quantum technology hardware and software products. Their solutions serve numerous applications, including multi-factor authentication, smart energy systems, smart home devices, healthcare, and various industrial sectors.
Post-Quantum Cryptography (PQC) is aimed at creating secure cryptographic methods resistant to potential quantum attacks, safeguarding sensitive data from advanced quantum computer capabilities. For further information, please visit www.sealsq.com.
Forward-Looking Statements
This communication contains forward-looking statements that are subject to various risks and uncertainties…
Understanding Forward-Looking Statements
SEALSQ Corp has shared insights regarding its projection for future operations. These forward-looking statements highlight expected business strategies, financial performance, and anticipated market developments. However, these remarks are not guaranteed; actual future results could vary significantly from predictions.
The company acknowledges that these statements carry inherent risks and uncertainties. Several factors may cause actual outcomes to diverge from current expectations. Key challenges include:
- SEALSQ’s ability to successfully implement growth strategies.
- The effective launch of post-quantum semiconductor technology.
- Competitiveness in the emerging quantum semiconductor market.
- Expansion of operations within the U.S.
- Capability to pursue investments in next-generation quantum-ready semiconductors.
- Continued partnerships with major customers.
- Overall market demand and conditions in the semiconductor industry.
Potential volatility in the quantum computing market may also pose risks. More details about these uncertainties can be found in SEALSQ’s filings with the SEC.
Company Communication
As of this date, SEALSQ Corp does not plan to update any forward-looking statements made in this communication unless new information emerges or future events warrant it.
Press and Investor Contacts
SEALSQ Corp.
Carlos Moreira
Chairman & CEO
Tel: +41 22 594 3000
info@sealsq.com
SEALSQ Investor Relations (US)
The Equity Group Inc.
Lena Cati
Tel: +1 212 836-9611 / lcati@equityny.com
Katie Murphy
Tel: +212 836-9612 / kmurphy@equityny.com
This article was originally published on Quiver News; read the full story.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
