Sealsq prices 10M share offering at $2.00 per share

Sealsq (LAES) announced that it has entered into a securities purchase agreement with several institutional investors to purchase 10M ordinary shares at a public offering price of $2.00 per ordinary share, for gross proceeds of $20.0M, before deducting commissions and offering expenses. Maxim Group is acting as the sole placement agent for the offering. Sealsq says it currently intends to utilize the net proceeds from the offering to fund its planned strategic investment in the Quantix EdgeS joint venture, support the intended acquisition of IC ALPS, the continued deployment of its next-generation post-quantum semiconductor technology and ASIC capabilities in the United States and for general corporate purposes.