Sivers Semiconductors: Oversubscribed Placement Fuels Indium Phosphide Push as Backlog Reaches $799M
Published on 07/04/2026 at 18:32 | Redaktion boerse-global.de
Institutional investors piled into Sivers Semiconductors’ latest capital raise, oversubscribing a 12.28 million new share placement that brought in 700 million Swedish kronor — even as the stock has dropped nearly 38% over the past month. The strong demand from both new and existing professional investors in Sweden and abroad underscores a sharp divide between near-term market sentiment and the company’s longer-term pipeline trajectory.
The board opted for a directed share placement via an accelerated bookbuilding, setting the subscription price at 57 Swedish kronor per share. That represented a discount of about 9.7% relative to the June 30 closing price on Nasdaq Stockholm. Pareto Securities managed the transaction. The price was well received: the offering was multiple times oversubscribed, a signal that institutional confidence in the company’s core markets — artificial intelligence, satellite communications, and defence — remains robust despite the recent stock rout.
Sivers shares rebounded sharply on Friday, climbing 18.34% to close at €5.20. Yet on a weekly basis the equity is still nursing an 11.86% loss, and over 30 days the decline stands at 37.72%. The stock now trades 49.17% below its 52-week high of €10.23, reached on June 3. The annualized 30-day volatility reading of 213.56% underscores the extreme turbulence surrounding the stock.
The capital injection comes at a moment when Sivers is juggling two opposing operational trends. In the first quarter of 2026, the company reported that its order pipeline had swelled 77% to $799 million compared with the end of 2025. Net revenue, however, slipped from 78.9 million to 61.9 million Swedish kronor — a 22% year-on-year decline. Adjusted EBITDA worsened from minus 6.0 million to minus 13.8 million kronor, with the loss widening by 7.8 million kronor. Management partly blamed the US government shutdown in the fourth quarter of 2025 for delaying defence budgets, as well as unfavourable currency movements. At the same time, costs rose as Sivers beefed up its sales force to serve the growing pipeline and prepared for a potential dual listing in the United States.
Should investors sell immediately? Or is it worth buying Sivers Semiconductors?
CEO Vickram Vathulya views the fresh funds as a strategic accelerator, particularly for expanding production capacity for indium phosphide chips. Long lead times for equipment require early investment, he noted, while the oversubscription validates investor faith in the company’s technology focus. The company now has enough financial headroom to execute its plans.
To prevent further selling pressure, management extended lock-up agreements. Vathulya, CFO Heine Thorsgaard, and board members Bami Bastani, Karin Raj, and Todd Thomson committed not to sell any shares until July 16, 2026. Because earlier lock-up pacts from an April placement were still active, no new agreements were deemed necessary.
Technically, the stock is trading 15.58% below its 50-day moving average of €6.16 but far above the 100-day average of €3.54. The relative strength index of 41.2 sits in neutral territory, offering no clear directional signal. The extreme volatility means that Friday’s bounce could either mark a sustainable floor — provided the 100-day line holds — or prove fleeting.
Sivers Semiconductors at a turning point? This analysis reveals what investors need to know now.
Sivers is scheduled to publish its next quarterly report in early August. The market will be watching closely to see whether the rapidly growing pipeline finally translates into revenue growth, after a sluggish start to the year.
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