Core Viewpoint - SEALSQ Corp has entered into an agreement with institutional investors to exercise 15 million outstanding Class A Black Scholes Warrants, raising approximately $69 million for the company [1][2]. Group 1: Warrant Exercise and Financial Implications - The investors will exercise the entirety of the 15 million existing warrants at an exercise price of $4.60 per share, resulting in gross proceeds of about $69 million before expenses [1][2]. - In exchange for the immediate exercise of the existing warrants, the investors will receive new Class C Warrants to purchase up to 26.25 million ordinary shares at an exercise price of $5.10 per share, expiring seven years from the issuance date [3]. Group 2: Company Background and Technology Focus - SEALSQ is focused on developing and selling semiconductors, PKI, and post-quantum technology hardware and software products, emphasizing quantum-resistant cryptography to address security challenges posed by quantum computing [7][8]. - The company is pioneering post-quantum semiconductors designed to protect sensitive data across various applications, including multi-factor authentication, healthcare systems, and industrial automation [8].
SEALSQ Enters into Warrant Exercise Transaction for $69.0 Million in Gross Proceeds