SEALSQ Corp (NASDAQ: LAES), a Swiss company specializing in semiconductors, PKI, and post-quantum cryptography (PQC) technologies, has secured $10 million in gross proceeds through a registered direct offering. The offering, priced above market under NASDAQ rules, involves the sale of 7,692,308 ordinary shares at $1.30 per share. Maxim Group LLC acted as the sole placement agent for the transaction, which is expected to close on December 16, 2024, subject to standard conditions.
The funding will primarily support SEALSQ’s development of next-generation post-quantum semiconductor technologies and ASIC capabilities within the United States, in addition to bolstering working capital and general corporate purposes. The offering is conducted under a shelf registration statement declared effective by the SEC on November 27, 2024.
SEALSQ’s solutions address a critical need for cryptographic methods resistant to quantum attacks, as quantum computing advancements threaten traditional RSA and ECC encryption. The company’s hardware and software products target a wide range of applications, including smart energy, medical devices, automotive systems, and IT infrastructure.
This funding positions SEALSQ to strengthen its presence in the rapidly evolving quantum computing ecosystem, helping safeguard sensitive information against future quantum threats.
For more details, visit SEALSQ’s press release here.
December 16, 2024
