SCHEDULE: CVI Investments, Heights Capital Report 9.9% Stake in SEALSQ Corp

CVI Investments, Inc. and Heights Capital Management, Inc. have jointly reported a beneficial ownership of 9.9% in SEALSQ Corp's Ordinary Shares.

Summary

• CVI Investments, Inc. and Heights Capital Management, Inc. (collectively, "Reporting Persons") have filed an Amendment No. 1 to Schedule 13G regarding their beneficial ownership in SEALSQ Corp.
• The Reporting Persons collectively beneficially own 19,689,323 Ordinary Shares of SEALSQ Corp, representing 9.9% of the class.
• Heights Capital Management, Inc. serves as the investment manager to CVI Investments, Inc. and may exercise shared voting and dispositive power over these shares.
• The reported shares include those issuable upon the exercise of warrants, which are subject to a 9.99% beneficial ownership limitation.
• As of October 20, 2025, SEALSQ Corp had 177,400,997 Ordinary Shares outstanding, according to its Prospectus Supplement.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. It is a standard regulatory disclosure of beneficial ownership and does not contain information that would inherently be positive or negative for the company's prospects.

Future Outlook

N/A

Industry Context

StockSavvy.ai notes that Schedule 13G filings are routine disclosures by institutional investors holding more than 5% of a company's stock, indicating a passive investment intent. This filing updates the beneficial ownership of CVI Investments and Heights Capital Management in SEALSQ Corp, a common occurrence as investment positions fluctuate.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership, confirming a substantial stake held by CVI Investments and Heights Capital Management.

Key Dates

Recommendation

This Schedule 13G filing is a routine disclosure of beneficial ownership and does not provide new fundamental information about SEALSQ Corp's operations, financial performance, or strategic direction that would warrant a change in investment recommendation. It merely confirms a significant, passive stake by institutional investors. Therefore, a 'hold' recommendation is appropriate as there's no new catalyst for 'buy' or 'sell' based solely on this filing.

Keywords

SEALSQ Corp, CVI Investments, Heights Capital Management, Schedule 13G, Beneficial Ownership, Ordinary Shares, Warrants, Institutional Investor, Equity Stake