Susquehanna Securities, LLC filed an amended Schedule 13G/A reporting beneficial ownership of 12,134,793 shares of SEALSQ Corp Ordinary Shares, representing 5.4% of the class. The filing states this total includes options to buy 10,814,300 shares. The company reported 222,773,999 shares outstanding as of March 27, 2026.
Positive
None.
Negative
None.
Insights
Large disclosed position driven largely by option exposure.
The filing lists a beneficial position of 12,134,793 shares, equal to 5.4% of the class, citing 10,814,300 options included in that amount. This indicates substantive option-based exposure within the reported stake.
Key dependencies include option exercisability and timing; subsequent filings may clarify whether options are exercisable or vested and how the position will change.
Disclosure aligns with Schedule 13G/A positional reporting requirements.
The statement identifies the Reporting Person as Susquehanna Securities, LLC and provides a CUSIP and the issuer's outstanding share count as of March 27, 2026. The filing is signed and dated May 13, 2026, completing the required amendment formalities.
Future amendments could appear if ownership changes or if options are exercised; the filing itself does not specify exercise dates or cash‑flow treatment.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
SEALSQ Corp
(Name of Issuer)
Ordinary Shares, USD 0.01 par value per share
(Title of Class of Securities)
81752W108
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
81752W108
1
Names of Reporting Persons
Susquehanna Securities, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
12,134,793.00
6
Shared Voting Power
12,134,793.00
7
Sole Dispositive Power
12,134,793.00
8
Shared Dispositive Power
12,134,793.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
12,134,793.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
This statement is filed by Susquehanna Securities, LLC, who is referred to herein as the "Reporting Person" with respect to the Ordinary Shares, USD 0.01 par value per share (the "Shares"), of SEALSQ Corp (the "Company").
(b)
Address or principal business office or, if none, residence:
The address of the principal business office of the Reporting Person is:
401 E. City Avenue
Suite 220
Bala Cynwyd, PA 19004
(c)
Citizenship:
Citizenship is set forth in Row 4 of the cover page for the Reporting Person and is incorporated herein by reference.
(d)
Title of class of securities:
Ordinary Shares, USD 0.01 par value per share
(e)
CUSIP No.:
81752W108
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The information required by this Item 4(a) is set forth in Row 9 of the cover page for the Reporting Person and is incorporated herein by reference.
The number of Shares reported as beneficially owned by the Reporting Person includes options to buy 10,814,300 Shares.
The Company's Annual Report on Form 20-F, filed on March 31, 2026, indicates there were 222,773,999 Shares outstanding as of March 27, 2026.
(b)
Percent of class:
5.4 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by this Item 4(c)(i) is set forth in Row 6 of the cover page for the Reporting Person and is incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
The information required by this Item 4(c)(ii) is set forth in Row 6 of the cover page for the Reporting Person and is incorporated herein by reference.
(iii) Sole power to dispose or to direct the disposition of:
The information required by this Item 4(c)(iii) is set forth in Row 6 of the cover page for the Reporting Person and is incorporated herein by reference.
(iv) Shared power to dispose or to direct the disposition of:
The information required by this Item 4(c)(iv) is set forth in Row 6 of the cover page for the Reporting Person and is incorporated herein by reference.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
