SEALSQ Corp's stock is experiencing a decline following the announcement of a $25 million registered direct offering priced at $1.90 per share. This offering, disclosed on December 17, 2024, involves the issuance of 13,157,896 ordinary shares, which is significantly below the previous closing price. The offering is expected to close around December 19, 2024, and the proceeds are intended to fund the deployment of next-generation post-quantum semiconductor technology and support working capital. The market's reaction to this offering, which is priced below the current market value, appears to be contributing to the downward pressure on the stock.
On the other hand, SEALSQ's recent strategic partnership with Hedera to develop quantum-resistant semiconductors has been a topic of discussion among investors. This collaboration aims to address quantum threats that could compromise traditional cryptographic systems, with SEALSQ's QS7001 hardware platform undergoing testing for a 2025 launch. Despite the positive long-term implications of this partnership, the immediate impact of the share offering seems to be overshadowing the potential benefits, as reflected in the stock's current performance.
SEALSQ Corp's stock is currently trading at $2.70, down 9.40% from the previous close of $2.98. The stock has seen significant trading volume, with a high of $3.20 and a low of $2.65 today.