Sivers Semiconductors' 700M SEK Placement Sinks Shares 18% as New Investors See Instant Losses
Published on 07/03/2026 at 04:22 | Redaktion boerse-global.de
Sivers Semiconductors has raised 700 million Swedish kronor (roughly €62 million) through a directed share issue, but the relief proved short-lived. Within a day of the placement's close, the stock had tumbled 18.39% to €4.36, leaving the new shares trading well below the 57 SEK (€5.03) issue price. The discount to the June 30 closing price was 9.7%, yet even that concession failed to stem the selloff. Since the start of the week, the shares have lost 25.53% and over a month they have shed 47.38%. From its 52-week high of €10.23 set on June 3, the stock has now fallen 57.36%.
The placement itself was heavily oversubscribed. Both Swedish and international institutional investors – including existing and new shareholders – snapped up the 12.28 million new shares. Pareto Securities acted as sole bookrunner, with Setterwalls Advokatbyrå providing legal counsel. The capital is intended to accelerate production of indium phosphide-based lasers and optical amplifiers for AI data centers and automotive LiDAR.
But the market's focus has shifted from the strategic rationale to the dilution. With the latest issue, total shares outstanding have ballooned to 319.95 million, compounding the effect of an earlier April placement. Existing shareholders have seen their stakes diluted twice in as many months. The stock now trades 29% below its 50-day moving average of €6.11, while the 100-day average at €3.49 serves as the nearest technical floor.
Should investors sell immediately? Or is it worth buying Sivers Semiconductors?
Compounding the selling pressure are ongoing regulatory investigations, though details remain murky. Multiple probes are reportedly underway against the company, adding an extra layer of uncertainty for investors already grappling with extreme volatility. The annualized 30-day volatility stands at 225.39%, while the relative strength index at 34.7 suggests the stock is nearing oversold territory.
Insider selling is off the table for now. Board members Bami Bastani, Karin Raj, and Todd Thomson, along with CEO Vickram Vathulya and CFO Heine Thorsgaard, are bound by lock-up agreements until July 16. Those restrictions date back to the April placement; no new lock-ups were required for this round.
CEO Vathulya has described the capital increase as a proactive move to secure long-term manufacturing capacity, not a distress call. The funds will also strengthen the balance sheet, he said. But with the stock trading at a fraction of its recent highs and the next quarterly report still weeks away (due in August), investors are left to weigh the company's AI photonics ambitions against the immediate costs of dilution and a volatile share price.
The lock-up expiry in mid-July could bring further pressure if insiders then sell. Meanwhile, the company has not disclosed a timeline for its potential US listing. For now, Sivers remains a battleground between a well-funded growth story and a market that is voting with its feet.
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