Sivers Semiconductors Restates Financials, Raises 125M SEK as Nasdaq Dual Listing Vote Nears

Sivers Semiconductors has warned investors to expect a later-than-planned release of its first-quarter numbers, but the delay comes with a silver lining: the Swedish chipmaker is putting the finishing touches on financial records compliant with US auditing standards, a prerequisite for its long-awaited dual listing on the Nasdaq in New York.

The quarterly report, originally scheduled for May 20, will now land on May 29. The company blamed the shift on the work required to restate historical accounts under PCAOB rules — the US audit watchdog’s framework. That exercise has involved revaluing inventory and reclassifying certain revenues from prior years into different reporting periods. The extra effort, management argues, lays the foundation for a credible US market debut.

Capital raise secures fresh firepower

The stock has already attracted heavyweight backing. An extraordinary general meeting earlier this week approved a capital increase that saw Sivers issue roughly 8.6 million new shares at 14.50 Swedish kronor apiece, raising around 125 million kronor. Institutional investors including DNB and Hudson Bay Capital participated in the placement. The proceeds will be ploughed directly into optical components for AI data centres, where the company sees its best growth prospects.

Should investors sell immediately? Or is it worth buying Sivers Semiconductors?

Sivers is collaborating with Jabil, a manufacturing partner, to develop 1.6T optical transceiver modules that rely on the company’s proprietary indium phosphide laser technology. By sticking to a fabless production model — outsourcing fabrication to avoid capital-intensive factories — Sivers believes it can scale quickly once demand for integrated optics picks up.

Employee option plan on the agenda

Shareholders will also vote on a new compensation scheme at the annual meeting. The board has proposed issuing up to seven million stock options, which would dilute existing equity by roughly 2% if fully exercised. The plan ties vesting to an annual growth target of 16.6%, a figure that mirrors current semiconductor industry forecasts. European participants must meet stringent performance criteria to earn their grants.

The AGM was postponed from its original date and will now take place on June 15, 2026. On that day, investors will decide on the strategic pivot towards a Nasdaq listing — a move that management hopes will provide the liquidity needed to fund the production ramp-up of the new transceiver projects starting in late 2026.

At the Stockholm exchange, the stock last changed hands at 56.65 Swedish kronor. The delayed Q1 report will offer the first operational snapshot since the capital injection and will also reveal the impact of the US accounting overhaul on the company’s bottom line.

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