WISeSat.Space Shares Surge on Potential Satellite Deal

Dow Jones10-26

Shares of WISeSat.Space Holdings surged after its sister company, SEALSQ, signed a letter of intent to buy an initial fleet of 12 WISeSat.Space satellites for about $15 million.

Shares of WISeSat.Space climbed 5.7% to $6.47 on Monday. The stock is down 38% year to date. SEALSQ rose 2.3% to $1.59.

The proposed deal is intended to establish the initial orbital and terrestrial infrastructure for the Quantum Spatial Orbital Cloud, an orbital communications platform, the space-technology company said.

Under the deal, WISeSat.Space said it would be responsible for tasks such as procuring the satellites, providing access to the initial constellation and operating the associated mission control. SEALSQ would develop and commercialize QSOC's security-services layer.

The transaction comes after WISeSat.Space began trading on the Nasdaq on Oct. 2. It also follows SEALSQ's $10 million private investment in public equity in WISeSat.Space that closed Oct. 1.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment