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Open original source ↗Congrats to $SIVE, they have now raised an upside round of 700m SEK from institutional investors.
The round was “Multiple Times Oversubscribed” and slightly upsided.
Validating immense institutional demand around current market prices.
This raise was specifically for "expanding manufacturing capacity for InP lasers and optical amplifiers" (volume ramping with fab-light model).
Hinting Sivers has reached the inflection point for scale.
The round was at 57 SEK (current prices are 63 SEK), which I’m personally very happy about as it’s around current market prices, which typically sets a floor.
Instituional money has now de-risked the balance sheet, and funded Sivers transition to HVM.
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Great news with a Direct share issue that was oversubscribed multiple time. What started as a planned SEK 600M (+$61m) raise was upsized to SEK 700M ($73m) thanks to strong institutional investor demand. That's a clear vote of confidence in $SIVE and the ramping within AI photonics, SATCOM and defense. SEK 700M is roughly US$73M in fresh capital, providing even greater financial flexibility to accelerate execution and scale the business. Strong demand. Strong balance sheet. Exciting times ahead. Great work by the Sivers team! Congratulations! $SIVE #AI #Photonics https://t.co/SWr5UhK4VG
StormDirac ↗