SEALSQ Corp, a leading company in the development and sale of Semiconductors, PKI, and Post-Quantum technology hardware and software products, has recently announced a significant milestone. The company has entered into a securities purchase agreement with several institutional investors to purchase 13,157,896 ordinary shares at a public offering price of $1.90 per share, resulting in gross proceeds of $25.0 million. This offering, facilitated by Maxim Group LLC as the sole placement agent, is expected to close on or about December 19, 2024, subject to customary closing conditions.
The net proceeds from this offering will be utilized by SEALSQ to fund the deployment of its next-generation post-quantum semiconductor technology and ASIC capabilities in the United States. Additionally, the funds will support working capital and general corporate purposes, enabling the company to further its innovative solutions in the field of Semiconductors, PKI, and Provisioning services.
The Offering is being made in accordance with an effective shelf registration statement on Form F-3 (File No. 333-283358) previously filed with the U.S. Securities and Exchange Commission (SEC) on November 27, 2024. A prospectus supplement related to the securities offered in this transaction will be filed by the Company with the SEC. Interested parties can access this information on the SEC’s website or through Maxim Group LLC.
SEALSQ focuses on providing integrated solutions based on cutting-edge technologies such as Semiconductors, PKI, and Post-Quantum hardware and software products. These solutions have a wide range of applications, from Multi-Factor Authentication tokens to Smart Energy, Smart Home Appliances, Medical and Healthcare, IT Network Infrastructure, Automotive, Industrial Automation, and Control Systems.
Post-Quantum Cryptography (PQC) is a key area of focus for SEALSQ, as it aims to develop cryptographic methods that are secure against quantum computer attacks. With the increasing power of quantum computers, traditional cryptographic methods like RSA and Elliptic Curve Cryptography (ECC) are at risk. PQC seeks to address this vulnerability by developing new, quantum-resistant cryptographic solutions.
In conclusion, SEALSQ Corp’s recent securities purchase agreement marks a significant step forward in the company’s mission to lead in the development and sale of advanced technology solutions. With a focus on post-quantum semiconductor technology and a commitment to innovation, SEALSQ is poised to make a major impact in the tech industry.