What's Going On With SEALSQ Stock Friday?

SEALSQ Corp. LAES shares are moving amid volatility on Friday. The stock fell briefly after the market opened only to rebound as the day continued, On Thursday evening, the company announced that Nasdaq had confirmed it regained compliance with the minimum bid price rules.

The Details: The company was given until Jan. 28 by the Nasdaq to regain compliance with the minimum price requirements. To meet these requirements, the company's shares had to close at $1.00 or more for at least 10 consecutive business days.

SEALSQ shares closed at or above $1.00 from December 11 to December 24. The company was notified of its noncompliance with these rules on August 1.

What Else: Earlier this month, the company announced a registered direct offering priced at $1.90 per share. It planned to sell 13,157,896 ordinary shares at this price, a discount to the trading prices at the time, and generate approximately $25 million in gross proceeds.

SEALSQ intends to use the funds to further the deployment of its post-quantum semiconductor technology and ASIC capabilities in the U.S., along with supporting working capital and general corporate needs.

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LAES Price Action: At the time of writing, SEALSQ stock is trading 5.48% higher at $9.20, according to data from Benzinga Pro.

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