SEALSQ Corp (NASDAQ: LAES) witnessed a significant boost in its stock value ahead of the anticipated closure of its equity offering. LAES shares rose 50.29% to $2.63 during pre-market trading.
Details of the Equity Offering
In order to raise $10 million in gross proceeds, SEALSQ (LAES) announced a securities purchase agreement with institutional investors to sell 7,692,308 common shares for $1.30 apiece. This increase comes after that announcement. The net proceeds of the transaction, which is scheduled to conclude on or around December 16, 2024, will be used for general company purposes, ASIC development, and the advancement of SEALSQ’s post-quantum semiconductor technology.
Developing Strategic Alliances to Promote Drone Security
SEALSQ has established itself as a major force in improving security for Unmanned Aerial Vehicles (UAVs) and professional drones. To include its secure chips into their products, LAES has teamed up with top producers like Parrot and AgEagle.
Parrot, Europe’s top commercial UAV provider, incorporates the company’s secure elements into flagship models like the ANAFI USA and ANAFI Ai. Similarly, AgEagle utilizes SEALSQ’s technology in its eBee VISION UAS, designed for Intelligence, Surveillance, and Reconnaissance (ISR) operations.
Innovations in Quantum-Resistant Technology
LAES is also planning launching its Quantum-Resistant Secure Chips portfolio in 2025, featuring the QS7001 Open Platform and QVault Trusted Platform Module (TPM). Engineering samples of the QS7001 are currently undergoing comprehensive validation to ensure reliability and security. These advancements underline SEALSQ’s commitment to developing state-of-the-art solutions that cater to the evolving needs of defense and commercial drone markets.
Meeting Global Demand for Secure Drone Applications
As drones become indispensable tools for infrastructure inspection, surveillance, and mapping in countries like the United States, France, and the UAE, the company is well-equipped to meet the growing demand.
Leveraging its Swiss-based root of trust, PKI provisioning services, and certified secure semiconductors, LAES ensures its solutions adhere to the highest security standards. By expanding its partnerships and innovating in post-quantum technology, SEALSQ solidifies its role in safeguarding critical drone applications for public safety and defense.
