Sivers Draws Institutional Firepower as Nasdaq Listing and New mmWave Deal Overlap

Sivers Semiconductors has given itself a triple agenda: bolster the balance sheet, deepen a wireless hardware partnership, and push toward a US stock exchange listing. The Swedish chipmaker wrapped all three moves within days, signaling a broader strategic shift.

Shareholders at an extraordinary general meeting on May 11 backed a directed share issue that will place 8.62 million new common shares at 14.50 Swedish kronor apiece. The gross proceeds come to roughly SEK 125 million, and the company’s share capital will climb by SEK 4.31 million. Existing holders were not offered subscription rights — a deliberate choice by the board to move fast and attract large institutional names.

Among the subscribers are DNB Disruptive Opportunities, DNB Nordic Small Cap, Storebrand Sverigefond, and the Swedish funds Alcur, Atlant and Cicero. On the US side, Hudson Bay Capital Management and Waterside AM also signed up. The issue price was hammered out in direct talks with these investors, a mix of both new and existing backers.

Why skip a standard rights offering? Sivers management argues that a directed placement is cheaper, quicker and lets the company broaden its institutional shareholder base, which in turn could improve trading liquidity. The trade-off is dilution for current holders, a trade-off the board considers justified given the speed and market conditions.

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

A Fresh Wireless Project

Alongside the capital raise, Sivers announced a development partnership with Tachyon Networks valued at $1.5 million. The project centers on a 60-GHz millimeter-wave transceiver aimed at the fixed-wireless-access market. That dovetails with Sivers’ core expertise in photonics and wireless technology for 5G mmWave networks, fiber optics and satellite communications — areas that have drawn extra demand from the AI infrastructure buildout.

The New York Track

The capital injection is not just about day-to-day operations. Sivers is actively exploring a secondary listing on the Nasdaq in New York. An extended audit process is already underway, bringing the company’s financial statements for 2024 and 2025 up to US accounting standards.

That audit has pushed back the 2025 annual report — now scheduled for release on May 15, 2026 — and the ordinary annual general meeting has been moved to June 15, 2026. If the Nasdaq listing goes through, Sivers would gain direct access to deeper US capital markets and a much wider pool of investors.

The convergence of fresh equity, a new millimeter-wave contract and the US listing review means the next milestone for the company is the delayed annual report, which will likely reveal how far the preparations for New York have progressed.