Institutional Investors Snap Up Sivers Shares Despite 34% Weekly Rout as Company Pushes Toward Nasdaq

Sivers Semiconductors shares drop 34% in a week and 55% in 30 days amid tech sell-off, but oversubscribed placement and loan conversion raise funds for Nasdaq dual listing planned by 2026-2027.

Sivers Semiconductors has endured a brutal week, with its stock shedding roughly 34% of its value and plunging more than 55% over the past 30 days. Yet amid the chaos, the Swedish photonics and RF technology group executed a pair of capital-raising moves that drew strong institutional demand — a sign that not all investors are fleeing the name. On Wednesday alone, the stock slid 5.93% to €3.56, while alternative data showed a 6.40% drop to €3.54, reflective of the extreme intraday volatility that has pushed the annualized reading above 200%.

The company announced a directed share placement of 12,280,701 new ordinary shares, raising approximately 700 million Swedish kronor at a subscription price of 57 kronor apiece — roughly 9.7% below the June 30 closing price. The offer was multiple times oversubscribed, attracting both existing holders and new Swedish and international institutional investors. Separately, just days earlier, lender Bootstrap Europe IV SCSp converted a $12 million loan into 22,847,044 new shares, increasing the total share count from 332,234,273 to 355,081,317 and diluting existing shareholders by about 6.4%. CFO Heine Thorsgaard described Bootstrap as an “excellent strategic financing partner” and said the conversion materially reduces the company’s debt, aligning with its strategy to strengthen the balance sheet and focus on three high-growth core segments.

The capital measures triggered fresh selling pressure, but the broader tech sell-off has compounded the damage. A wide rotation out of high-valuation AI stocks swept through global markets; the SOX semiconductor index lost more than 4% in a single day. Even Samsung Electronics, despite a profit explosion, saw its shares drop 7%. Reports that developer DeepSeek is building its own AI chip, rising Brent crude prices above $74, and lingering supply-chain bottlenecks — Waystream recently flagged longer component lead times — have all weighed on sentiment. Sivers’ relative strength index now stands at 33.6, flirting with oversold territory, while the stock sits more than 65% below its June record of €10.23.

Behind the capital activity lies a larger ambition: a secondary listing on the Nasdaq in New York. The review phase concluded on July 1, and the company has entered the implementation stage, with its accounting already shifted to U.S. GAAP to satisfy SEC requirements. Management expects the dual listing to occur between late 2026 and early 2027, while the Stockholm listing will remain active. Insider selling is barred during this period: from an earlier directed placement on April 16, 2026, board members Bami Bastani, Karin Raj, Todd Thomson, CEO Vickram Vathulya, and CFO Thorsgaard are locked up until July 16, 2026 — no new lock-up was needed for the latest placement.

Operationally, the financing offensive comes at a weak moment. First-quarter 2026 net sales fell 22% year-on-year to 61.9 million kronor, and adjusted EBITDA deepened to a loss of 13.8 million kronor from a loss of 6.0 million a year earlier. The U.S. government shutdown in late 2025 delayed defense budgets and created an unfavorable currency environment. Yet the order pipeline has grown 77% since the start of the year to $799 million. Vathulya noted that expected revenues from the first half were pushed into the second half of 2026, but the company remains on track for its annual growth target, with several production ramp-ups slated for 2027.

For now, investors are weighing immediate dilution — roughly 9% combined from the two capital moves — against a long-term narrative built on AI data centers, satellite communications, and defense technology. The next quarterly report will be an early test of whether the balance-sheet repairs are translating into operational momentum. The stock’s annualized volatility of 219% suggests that any catalyst could trigger sharp moves in either direction.