SEALSQ Updates on Minimum Bid Price Non-Compliance
SEALSQ Corp (NASDAQ: LAES) provided an update on addressing its non-compliance with Nasdaq's minimum bid price requirement. The company has until January 28, 2025 to regain compliance, requiring its shares to trade at $1.00 or above for at least 10 consecutive business days. SEALSQ aims to achieve compliance through its semiconductor segment activities. If unsuccessful, the company plans to request an additional 180-day extension, confirming it currently meets all necessary criteria for such an extension. The company may consider a reverse stock split if needed to maintain Nasdaq listing.
SEALSQ Corp (NASDAQ: LAES) ha fornito un aggiornamento riguardo alla sua non conformità con il requisito del prezzo minimo di offerta di Nasdaq. L'azienda ha tempo fino al 28 gennaio 2025 per riconquistare la conformità, il che richiede che le sue azioni vengano scambiate a $1,00 o oltre per almeno 10 giorni lavorativi consecutivi. SEALSQ punta a raggiungere la conformità attraverso le attività del suo segmento di semiconduttori. Se non avrà successo, l'azienda prevede di richiedere un'estensione aggiuntiva di 180 giorni, confermando di soddisfare attualmente tutti i criteri necessari per tale estensione. L'azienda potrebbe considerare un'operazione di frazionamento inverso delle azioni se necessario per mantenere la quotazione su Nasdaq.
SEALSQ Corp (NASDAQ: LAES) proporcionó una actualización sobre su incumplimiento con el requisito de precio mínimo de oferta de Nasdaq. La empresa tiene hasta el 28 de enero de 2025 para recuperar el cumplimiento, lo que requiere que sus acciones se cotizan a $1.00 o más durante al menos 10 días hábiles consecutivos. SEALSQ tiene como objetivo lograr el cumplimiento a través de las actividades de su segmento de semiconductores. Si no tiene éxito, la empresa planea solicitar una extensión adicional de 180 días, confirmando que actualmente cumple con todos los criterios necesarios para tal extensión. La empresa podría considerar una división inversa de acciones si es necesario para mantener la cotización en Nasdaq.
SEALSQ Corp (NASDAQ: LAES)는 Nasdaq의 최소 공모가 요건에 대한 불이행에 대한 업데이트를 제공했습니다. 회사는 2025년 1월 28일까지 준수를 회복해야 하며, 이를 위해서 주식이 10영업일 연속으로 $1.00 이상 거래되어야 합니다. SEALSQ는 반도체 부문 활동을 통해 준수를 달성하는 것을 목표로 하고 있습니다. 성공하지 못할 경우, 회사는 추가 180일 연장을 요청할 계획이며, 현재 그러한 연장을 위한 모든 필요 기준을 만족하고 있음을 확인합니다. 회사는 Nasdaq 상장을 유지하기 위해 필요 시 역주식분할을 고려할 수 있습니다.
SEALSQ Corp (NASDAQ: LAES) a fourni une mise à jour concernant son non-respect de l'exigence de prix minimal de l'offre de Nasdaq. L'entreprise a jusqu'au 28 janvier 2025 pour retrouver sa conformité, ceci nécessite que ses actions soient échangées à 1,00 $ ou plus pendant au moins 10 jours ouvrables consécutifs. SEALSQ vise à atteindre la conformité grâce aux activités de son segment de semi-conducteurs. Si cela échoue, l'entreprise prévoit de demander une prolongation supplémentaire de 180 jours, confirmant qu'elle remplit actuellement tous les critères nécessaires pour une telle prolongation. L'entreprise pourrait envisager un regroupement d'actions si nécessaire pour maintenir son inscription sur Nasdaq.
SEALSQ Corp (NASDAQ: LAES) hat ein Update zu seiner Nichterfüllung der Mindestgebotsanforderung von Nasdaq gegeben. Das Unternehmen hat bis zum 28. Januar 2025 Zeit, um die Einhaltung wiederherzustellen, was bedeutet, dass dessen Aktien für mindestens 10 aufeinanderfolgende Geschäftstage zu $1,00 oder mehr gehandelt werden müssen. SEALSQ beabsichtigt, die Einhaltung durch die Aktivitäten seines Halbleitersegments zu erreichen. Wenn dies nicht gelingt, plant das Unternehmen, eine zusätzliche 180-tägige Verlängerung zu beantragen, und bestätigt, dass es derzeit alle notwendigen Kriterien für eine solche Verlängerung erfüllt. Das Unternehmen könnte in Erwägung ziehen, bei Bedarf eine Reverse-Aktienaufspaltung durchzuführen, um die Nasdaq-Notierung aufrechtzuerhalten.
- Company meets all criteria for potential 180-day compliance extension
- Stock trading below Nasdaq's minimum $1.00 bid requirement
- Risk of potential delisting if compliance not achieved
- Possible reverse stock split may be needed
Insights
The minimum bid price compliance issue at SEALSQ raises significant concerns. With a small market cap of
The company's eligibility for an additional 180-day extension provides some breathing room, but the fundamental issue of market confidence needs addressing. For a semiconductor company in the growing post-quantum technology space, the depressed valuation suggests deeper operational or market positioning challenges that aren't being addressed in this update.
Geneva, Switzerland, Nov. 19, 2024 (GLOBE NEWSWIRE) -- SEALSQ Corp ("SEALSQ" or "Company") (NASDAQ: LAES), a leader in developing and selling semiconductors, PKI, and post-quantum technology hardware and software products, today provided an update on its strategy to address its noncompliance with the minimum bid price requirement in order to maintain its listing on the Nasdaq. As announced on August 1, 2024, the Company has been provided with an initial period of 180 calendar days, or until January 28, 2025, to regain compliance with the minimum bid price requirement. The closing bid price of the Ordinary Shares must be at least
The intention of the Company is to regain compliance with the Nasdaq minimum bid requirement prior to January 28, 2025 through its commercial activities in its semiconductor segment and the Company remains confident in this strategy. However, in the event that the Company has not regained compliance by January 28, 2025, the Company intends to request an extension to the compliance period of 180 days. A company listed on the Nasdaq Capital Market may be eligible for an additional 180-day compliance period if it meets the market value of publicly held shares requirement for continued listing and all other initial inclusion requirements for the Nasdaq Capital Market, except for the bid price requirement, and it provides written notice that it intends to regain compliance with the bid price requirement during the second 180-day compliance period, by effecting a reverse stock split if necessary.
The Company has reviewed the criteria that need to be met in order to receive an extension and can confirm that it meets all of these criteria as of the day of this release. If the Company continues to meet all of these criteria on January 28, 2025, it anticipates that the Nasdaq staff would grant the Company an additional 180-day compliance period upon submission of the written notice.
About SEALSQ:
SEALSQ focuses on selling integrated solutions based on Semiconductors, PKI and Provisioning services, while developing Post-Quantum technology hardware and software products. Our solutions can be used in a variety of applications, from Multi-Factor Authentication tokens, Smart Energy, Smart Home Appliances, and IT Network Infrastructure, to Automotive, Industrial Automation and Control Systems.
Post-Quantum Cryptography (PQC) refers to cryptographic methods that are secure against an attack by a quantum computer. As quantum computers become more powerful, they may be able to break many of the cryptographic methods that are currently used to protect sensitive information, such as RSA and Elliptic Curve Cryptography (ECC). PQC aims to develop new cryptographic methods that are secure against quantum attacks.
For more information please visit www.sealsq.com.
Forward-Looking Statements
This communication expressly or implicitly contains certain forward-looking statements concerning SEALSQ Corp and its businesses. Words such as “expects,” “intends,” “plans,” “believes,” “anticipates,” “estimates,” “projects,” “forecasts” and variations of such words and similar expressions, as they relate to us, our management or third parties, are intended to identify the forward-looking statements. Forward-looking statements include statements regarding our business strategy, financial performance, results of operations, market data, events or developments that we expect or anticipates will occur in the future, as well as any other statements which are not historical facts. Although we believe that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates which are inherently subject to significant uncertainties and contingencies, many of which are beyond our control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, the success and timeline of certain commercial developments, the ability of such commercial developments to cause the Company to regain compliance with the minimum bid price requirement, the Company’s ability to meet the criteria for any extension to regain compliance with the minimum bid price requirement and the Nasdaq staff’s decision to grant an extension of the compliance period. Risks and uncertainties are further described in reports filed by SEALSQ with the SEC.
All forward-looking statements, if any, in this release represent the Company’s judgment as of the date of this release. SEALSQ Corp does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
SEALSQ Corp Carlos Moreira Chairman & CEO Tel: +41 22 594 3000 info@sealsq.com | SEALSQ Investor Relations (US) The Equity Group Inc. Lena Cati Tel: +1 212 836-9611 / lcati@equityny.com Katie Murphy Tel: +212 836-9612 / kmurphy@equityny.com |
FAQ
What is the deadline for SEALSQ (LAES) to regain Nasdaq compliance?
What must SEALSQ (LAES) stock price maintain to regain Nasdaq compliance?
What happens if SEALSQ (LAES) doesn't meet compliance by January 28, 2025?
