SEALSQ Corp (NASDAQ:LAES) shares are trading lower Monday after the company announced a $125 million offering of 30.4 million shares with warrants.

$125 Million Registered Direct Offering

SEALSQ said it entered into a securities purchase agreement with several institutional investors to purchase 30,413,630 ordinary shares, or pre-funded warrants in lieu thereof, along with accompanying warrants to purchase up to 60,827,260 additional ordinary shares.

The combined purchase price per ordinary share and accompanying warrants is $4.11. The warrants will have an exercise price of $5.50 per share, will be immediately exercisable and will expire seven years following the date of issuance.

The offering is expected to generate gross proceeds of approximately $125 million before commissions and offering expenses. The transaction will be led by an affiliate of Heights Capital Management, Inc., with Maxim Group LLC acting as the sole placement agent.

SEALSQ Moves To Strengthen Balance Sheet

SEALSQ said it intends to use the net proceeds from the offering to strengthen its cash position and accelerate its post-quantum and quantum commercialization roadmap and deployment in the United States and Europe.

The offering is expected to close on or about March 17, subject to customary closing conditions.

SEALSQ Shares Fall Monday

LAES Price Action: At the time of writing, SEALSQ shares are trading 12.18% lower at $3.39, according to data from Benzinga Pro.

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