The share price of Sivers Semiconductors has plummeted by 38.54% in the last month, weighed down by a capital increase and the expiration of the lock-up agreement for executives. The company, which is seeking a dual listing on Nasdaq, has delayed its results to comply with US regulations.
The Swedish semiconductor manufacturer Sivers Semiconductors has accumulated a 38.54% drop in the last month, with an annualized volatility of 222.42% over 30 days. On Friday, the stock closed at €4.25, 2.41% higher than the previous day, but the weekly decline reaches 18.27%. Since the 52-week high of €10.23 reached on June 3, the retreat is 58.46%.
Capital increase and 6.4% dilution
In early July, Sivers completed a capital increase through the directed issuance of 12,280,701 new ordinary shares, equivalent to about 700 million Swedish crowns, at a subscription price of 57 crowns per share. The operation, which was oversubscribed, involved participation from Swedish and international institutional investors.
Shortly before, the lender Bootstrap Europe converted a $12 million convertible bond into approximately 23 million new shares, diluting current shareholders by about 6.4%. Despite the liquidity injection, the stock price still struggles to find support.
End of lock-up: executives can sell from July 16
A factor that adds short-term selling pressure is the expiration of the lock-up agreement associated with a share placement from April 16. Board members Bami Bastani, Karin Raj, and Todd Thomson, as well as CEO Vickram Vathulya and CFO Heine Thorsgaard, committed not to sell shares until July 16.
No new lock-up agreements were signed for the most recent capital increase; the existing ones simply remain in effect. Thus, the market is now closely watching two dates: the end of the restriction on July 16 and the publication of quarterly results on August 27, when it will be known whether the improved financial situation begins to translate into operational improvements.
"The decision responds to the goal of ensuring accuracy and transparency at a time of growth," explained Vickram Vathulya, CEO of Sivers Semiconductors, justifying the adjustment of the accounting calendar.
Revised accounting calendar to comply with Nasdaq
Sivers has adjusted its results presentation calendar for the second time this year. The reason: to prepare for the requirements of the Public Company Accounting Oversight Board of the United States, an essential requirement for the dual listing the company seeks on Nasdaq.
The new schedule places the publication of the second-quarter report on August 27, the third-quarter report on November 26, and the fourth-quarter report on February 25, 2027. The company operates in high-growth markets such as artificial intelligence data centres, satellite communications, defence, and telecommunications, with photonics technologies and radiofrequency beamformers.
Technical reading: relative overselling but no relief
The 50-session moving average stands at €6.23, 31.73% above the current price. In contrast, the 100-day average, at €3.73, has been recovered upwards. The 14-period RSI marks 39.2, suggesting that the stock is in oversold territory, although not to an extreme degree.
With a market capitalization of approximately €1.12 billion, Sivers faces a double challenge: convincing the market that its strategic shift towards the United States will bear fruit and managing the potential exit of executives after the lock-up. Until August 27, there will be no quarterly figures to assess the real impact of corporate decisions.
For investors, the key is to monitor sales volume from July 16 and the second-quarter results. If the company manages to show operational improvement, the technical overselling could present an opportunity; but if executives take the chance to sell, downward pressure could continue.
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