WISeKey Meets SpaceX

Oct 17, 2023

WISeKey International Holding Ltd (NASDAQ: WKEY) stock has been volatile on Monday after it shared plans to launch new WISeSat-Ready FOSSA-powered satellites with Elon Musk helmed SpaceX.

The company also announced the final distribution ratios for the partial spinoff of SEALSQ Corp.

Last Friday, the cybersecurity company disclosed its collaboration with FOSSA Systems to launch several new WISeSat-Ready FOSSA-powered satellites with SpaceX, adding to the 13 FOSSA satellites already in orbit.

These new satellites will be part of the 80-satellite constellation which FOSSA has been planning to deploy since early 2022 to provide global and real-time IoT connectivity for industrial applications with a 10-hour data latency.

SpaceX, on a Falcon 9 Vehicle, will execute the launch by June 2023.

Last week WISeKey tweeted about its satellite discussions with Musk sending the stock up by 30%.

WISeKey also approved a special dividend-in-kind in the form of 1.5 million shares in SEALSQ distributed to holders of WISeKey's Class A Shares, Class B Shares, and ADSs.

Each holder of Class B will receive 0.010301 SEALSQ shares, each holder of Class A will receive 0.002060 SEALSQ shares, and each holder of ADSs (each representing ten Class B shares of WISeKey) will receive 0.103011 SEALSQ shares for each ADS.

The stock has been volatile, with up 19% at one point and hitting a circuit breaker.

Price Action: WKEY shares traded lower by 2.90% at $3.35 on the last check Monday.

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This article WISeKey Meets SpaceX - Here's What's Going On originally appeared on Benzinga.com

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