SEALSQ secures $60M to advance post-quantum tech

SEALSQ Corp, a Swiss tech company in the semiconductors and post-quantum technology space, has raised a total of USD 60 million through multiple registered direct offerings. This includes the USD 10 million offering reported on December 12, 2024, and an additional USD 50 million raised through subsequent offerings. 

The funds will accelerate the deployment of post-quantum semiconductor technology and ASIC capabilities in the US while supporting general corporate purposes, the company said in a media release.

The first of the additional offerings, announced on December 16, 2024, highlighted pricing above market under NASDAQ rules, with a public offering price of USD 1.90 per share. SEALSQ entered into a securities purchase agreement with institutional investors, with Maxim Group LLC serving as the sole placement agent. The closing was initially projected for December 17, subject to customary conditions.

On December 17, SEALSQ reiterated the pricing details and adjusted the expected closing date to December 19, providing additional clarity on the offering. These updates ensured transparency regarding the terms, conducted under an effective shelf registration statement on Form F-3 filed with the SEC.

By December 19, SEALSQ confirmed the successful completion of the offering, bringing the total raised to USD 60 million. CEO Carlos Moreira expressed confidence in the funds’ role in driving the company’s quantum technology roadmap, particularly the development and launch of post-quantum chips.

SEALSQ also aims to enhance Application-Specific Integrated Circuit (ASIC) functionalities, optimizing their chips for more sophisticated computing environments.

Last week, SEALSQ announced the integration of its latest post-quantum cryptographic chips on WISeSat satellites. Earlier in December, SEALSQ said it was bringing its quantum technology to the expanding market of UAVs and professional drones.