SEALSQ Corp. (LAES), a developer of semiconductor and post-quantum technology solutions, has entered a $60 million securities purchase agreement with institutional investors, including Heights Capital Management.
The deal involves 15 million ordinary shares at $4.00 each about a 10% premium over the July 11 closing price, and includes warrants for an additional 30 million shares at $4.60, exercisable immediately and valid for seven years.
CEO Carlos Moreira stated that the funds will support SEALSQ's quantum and post-quantum tech roadmap, strategic acquisitions, and general operations. Following the transaction, the company expects to hold approximately $170 million in cash as of July 15. InvestingPro data notes SEALSQ's robust financial health, with a 6.0 current ratio and more cash than debt.
Maxim Group LLC is the sole placement agent. The offering, expected to close around July 15, is being made under an effective shelf registration with the SEC.
SEALSQ focuses on semiconductors and post-quantum cryptographic solutions addressing the cybersecurity challenges of quantum computing. For FY2025, it projects revenue growth of 45% to 82%, targeting $16M-$20M, with $4.8M reported in preliminary unaudited revenue for H1 2025 and $120M in cash as of June 30.
Pending French regulatory approval, SEALSQ aims to complete its acquisition of IC'ALPS, expected to contribute to H2 revenue. It has also expanded its Quantum Investment Fund beyond $35M and made key investments such as a Post-Quantum Semiconductor Center in Spain and a stake in WeCan Group. Its QUASARS initiative is driving development of quantum-resistant hardware and blockchain protection. The firm is also rolling out GSMA-accredited eUICC tech with post-quantum security for mobile and IoT devices.
LAES currently trades at $3.5 or 3.5763% lower on the NasdaqCM.
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