Geneva, Switzerland, December 30, 2024 (GLOBE NEWSWIRE) –

SEALSQ Corp. (NASDAQ: LAES) (“SEALSQ” or the “Company”), a company focused on the development and sale of semiconductor, public key infrastructure, software products and post-quantum technology devices, announced today that it expects to end the year with a strong balance sheet and cash position that… It is expected to exceed $85 million by January 3, 2025. The company’s advances in post-quantum technology, widely recognized as a key driver of future growth, has positioned SEALSQ as a leader in This is a transformative sector.

As part of its strategic initiatives, SEALSQ recently raised $60 million in gross revenue through several recorded live performances. This includes a $10 million registered direct offering announced on December 12, 2024, as well as an additional $50 million raised through two subsequent registered direct offerings completed in December 2024. As a result, on December 30, 2024, the total shares of common stock reached SEALSQ’s listing rose to 93.8 million, and its market capitalization exceeded $700 million.

The net proceeds raised through these transactions will be used to accelerate the deployment of post-quantum semiconductor technology and application-specific integrated circuit (ASIC) capabilities in the United States, while also supporting the company’s overall objectives.

The collateral has been liquidated and the convertible facilities have been cancelled

The first registered direct offering included a requirement that the Company enter into a $10 million convertible loan on or before January 16, 2025. If the Company fails to do so, all remaining warrants will be reset to an exercise price of $1.30 with an associated increase in the quantity of warrants to retain net proceeds.

In order to remove the requirement to enter into the convertible loan, and to avoid a related reduction in the exercise price of the warrant, the Company today agreed with the holders of its outstanding warrants to a one-time reduction in the exercise price of all outstanding warrants to $1.65 conditional on all outstanding warrants being exercised by January 3, 2025 (with Take into account a potential reduction of the strike price by $1.30 for certain warrants, in the event that certain regulatory filings are not completed by the Company on or before January 3, 2025).

Once this is completed, SEALSQ will have successfully satisfied its outstanding security obligations and will no longer be required to enter into the above-mentioned convertible loan facility. These financial measures are expected to strengthen the company’s balance sheet and support its long-term growth strategy.

Optimal financial structure

Legacy financing instruments, used during the company’s growth phase, have been phased out, reflecting SEALSQ’s strengthened financial position. The Company has also received formal written confirmation from Nasdaq Stock Market, LLC (Nasdaq) confirming that it has regained compliance with Nasdaq’s minimum bid price requirements, as announced on December 26, 2024.

Restoring compliance with Nasdaq’s minimum offering price requirements is the result of the closing offering price for the Company’s common stock being at least $1.00 for at least 10 consecutive business days prior to the deadline of January 28, 2025, as described in the initial notice from Nasdaq the Company received on August 1, 2024.

The Company reaffirms its December 19, 2024 statement that, given the terms of the financing completed in December, it does not currently expect to engage in any further registered direct offering of common stock for at least 60 days after the December 19, 2024 announcement as a result of the financing raised.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws. In any other country or jurisdiction.

About SEALSQ

SEALSQ is a leader in hardware and software solutions for post-quantum technology. Our technology seamlessly integrates semiconductors, public key infrastructure, and provisioning services, with a strategic focus on developing state-of-the-art quantum (NASDAQ:) resistive cryptography and semiconductors designed to address the urgent security challenges posed by quantum computing. . As quantum computers advance, traditional encryption methods such as RSA and Elliptic Curve Cryptography (ECC) are becoming increasingly vulnerable.

SEALSQ is a leader in the development of post-quantum semiconductors that provide robust, future-proof protection for sensitive data across a wide range of applications, including multi-factor authentication tokens, smart energy, medical (TASE:) healthcare systems, defence, IT network infrastructure, automotive, industrial automation and control systems. By incorporating post-quantum cryptography into our semiconductor solutions, SEALSQ ensures organizations remain protected against quantum threats. Our products are designed to protect critical systems, enhancing resilience and security across diverse industries.

For more information about post-quantum semiconductor and security solutions, please visit www.sealsq.com.

Forward-looking statements

This communication expressly or implicitly contains certain forward-looking statements regarding SEALSQ Corp. and its business. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we anticipate or anticipate will occur in the future, as well as any other statements that are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to be correct. These statements involve known and unknown risks and are based on a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our opinion, could cause actual results to differ materially from those discussed in the forward-looking statements include investors’ exercise of warrants; SEALSQ’s ability to implement its growth strategies; SEALSQ’s ability to successfully launch post-quantum semiconductor technology; SEALSQ’s ability to capture share of the quantum semiconductor market; Quantum computing market growth; SEALSQ’s ability to expand its operations in the United States; SEALSQ’s ability to make additional investments toward developing a new generation of quantum-ready semiconductors; SEALSQ’s ability to continue beneficial transactions with material parties, including a limited number of significant customers; Market demand and conditions in the semiconductor industry; Quantum computing market growth; and the risks discussed in SEALSQ’s filings with the Securities and Exchange Commission. Risks and uncertainties are further described in the reports filed by SEALSQ with the Securities and Exchange Commission.

SEALSQ Corp. makes this communication as of this date and undertakes no obligation to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

Press and investor communications

Sales Q Company
Carlos Moreira
Chairman of the Board of Directors and CEO
Tel: +41 22 594 3000
info@sealsq.com

Investor Relations SEALSQ (US)
Equity group company
Lena Katie
Phone: +1 212 836-9611 / lcati@equityny.com
Katie Murphy
Phone: +212 836-9612 / kmurphy@equityny.com