02:35 PM EDT, 05/05/2025 (MT Newswires) -- SEALSQ ( LAES ) shares dropped about 20% in recent Monday trading after the company struck a deal to sell 10 million shares at $2.00 a share to institutional investors.

The stock closed at $2.87 on Friday.

The firm said it plans to use the net proceeds to help fund the Quantix EdgeS joint venture, support the intended acquisition of IC ALPS, the deployment of its semiconductor technology and ASIC capabilities in the US, and for general corporate purposes.

The offering is expected to close Tuesday, with Maxim Group as placement agent, the company said.

Price: 2.30, Change: -0.57, Percent Change: -19.93