Sivers Semiconductors’ Dual-Listing Drive Triggers Accounting Turmoil and a 700 Million Crown Capital Raise
Published on 07/16/2026 at 10:22 | Redaktion boerse-global.de
Sivers Semiconductors is overhauling its financial reporting to meet US standards ahead of a planned Nasdaq dual listing, a move that has unearthed deeper losses and sent the stock into a tailspin — even as the company shores up its balance sheet with a 700 million Swedish krona capital injection.
The Swedish photonics and 5G chip specialist has restated its 2024 and 2025 accounts under the PCAOB audit uplift required for a US exchange listing. The revisions shifted revenue between periods, revalued inventory and wrote off capitalized development costs, leaving a net loss of 222.6 million kronor for 2025 on revenue of 306.6 million. That figure is substantially worse than originally reported, and the market has reacted sharply.
Sivers shares closed Thursday at €3.44, down 2.88% on the day and 17.01% lower over the past week. The monthly decline stands at 59.48%, while the stock now trades 66.33% below its 2026 peak of €10.23, reached on 3 June just weeks before the sell-off intensified. The 50-day moving average of €6.14 sits far above the current level, and the relative strength index of 35.0 is edging toward oversold territory. Annualized 30-day volatility of 149.45% underscores the extreme churning in the name.
Should investors sell immediately? Or is it worth buying Sivers Semiconductors?
Management has moved to strengthen the capital structure alongside the accounting cleanup. On 30 June, the company completed a directed share issue at 57 kronor per share, raising roughly 700 million kronor from Swedish and international institutional investors, with the offering multiple times oversubscribed. At the same time, lender Bootstrap Europe converted a $12 million convertible loan into approximately 22.8 million new shares, easing debt pressure. The fresh funds are earmarked for ramping up production of indium phosphide lasers and optical amplifiers used in AI data centers and LiDAR for autonomous driving.
Operationally, Sivers continues to notch progress. A partnership with Tachyon Networks is valued at $1.5 million, and a separate collaboration with Jabil focuses on 1.6T LRO transceivers, a growth area in high-frequency electronics and photonics. The company has also nominated Joakim Nideborn and Helena Svancar to its board, pending shareholder approval, as part of the governance adjustments needed for a US listing.
The financial calendar has shifted as a result of the restatement. Sivers will report its second-quarter 2026 results on 27 August, with third- and fourth-quarter numbers due on 26 November and 25 February 2027 respectively. Those reports will offer the first clear view of how the photonics and 5G businesses perform under the new accounting framework — and whether the operational story can catch up to the stock’s battered valuation.
With a market capitalization of roughly €1.14 billion, Sivers finds itself in a period where long-term expansion plans collide with short-term financial scrutiny. The coming quarters will test whether the capital injection and partnership momentum can offset the drag from a balance sheet in transition.
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