SEALSQ Secures $10 Million Through Public Offering to Advance Post-Quantum Semiconductor Technology
Insider Brief:
- SEALSQ Corp has secured $10 million in gross proceeds through a public offering of 7,692,308 ordinary shares at $1.30 per share, facilitated by Maxim Group LLC as the sole placement agent.
- The company plans to use the proceeds to advance its post-quantum semiconductor technology and ASIC capabilities in the U.S., along with supporting working capital and general corporate purposes.
- The offering, closing on December 16, 2024, is made under an effective shelf registration statement and aims to strengthen SEALSQ’s position in post-quantum cryptography and related hardware and software solutions.
PRESS RELEASE — SEALSQ Corp, a company that focuses on developing and selling Semiconductors, PKI and Post-Quantum technology hardware and software products, today announced that it has entered into a securities purchase agreement with several institutional investors to purchase 7,692,308 ordinary shares at a public offering price of $1.30, for gross proceeds of $10.0 million, before deducting commissions and offering expenses.
Maxim Group LLC is acting as the sole placement agent for the Offering.
SEALSQ currently intends to utilize the net proceeds from the Offering to fund the deployment of its next-generation post-quantum semiconductor technology and ASIC capabilities in the United States, to support working capital and for general corporate purposes. The Offering is expected to close on or about December 16, 2024, subject to the satisfaction of customary closing conditions.
About SEALSQ
SEALSQ focuses on selling integrated solutions based on Semiconductors, PKI and Provisioning services, while developing Post-Quantum technology hardware and software products. Our solutions can be used in a variety of applications, from Multi-Factor Authentication tokens, Smart Energy, Smart Home Appliances, Medical and Healthcare and IT Network Infrastructure, to Automotive, Industrial Automation and Control Systems.
Post-Quantum Cryptography (PQC) refers to cryptographic methods that are secure against an attack by a quantum computer. As quantum computers become more powerful, they may be able to break many of the cryptographic methods that are currently used to protect sensitive information, such as RSA and Elliptic Curve Cryptography (ECC). PQC aims to develop new cryptographic methods that are secure against quantum attacks. For more information, please visit www.sealsq.com.