XML 104 R88.htm IDEA: XBRL DOCUMENT v3.24.2
Bonds, mortgages and other long-term debt (Details Narrative) - USD ($)
1 Months Ended 12 Months Ended
Jul. 12, 2023
Jul. 10, 2023
Jul. 31, 2023
Nov. 30, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Jul. 11, 2023
Short-Term Debt [Line Items]                
Amortization of debt discount         $ 689,000 $ 355,000 $ 167,000  
Convertible promissory note         1,519,000    
Private Placement | L1 Capital Global Opportunities Master Fund                
Short-Term Debt [Line Items]                
Private placement     $ 10,000,000          
Private placement, description of transaction     divided into two equal tranches, in the form of Senior Unsecured Original Issue 4% Discount Convertible Promissory Notes. The Notes shall have a 24-month maturity and bear interest at a rate of 4% per annum, subject to adjustment. The Notes will be convertible into ordinary shares of SEALSQ, partially or in full, at an initial conversion price equal to the lesser of (i) USD 30 per ordinary share and (ii) 92% of the lowest daily volume weighted average price          
Private placement, available borrowings         $ 5,000,000      
Facility, additional information         the unconverted balance on the First L1 Note was USD 1 million and the unamortized debt discount balance was USD 170,994, hence a carrying value of USD 829,006      
Private Placement | L1 Capital Global Opportunities Master Fund | First Tranche                
Short-Term Debt [Line Items]                
Unamortized debt discount         $ 705,572      
Amortization of debt discount $ 563,112       210,290      
Private placement 5,000,000              
Convertible promissory note $ 5,000,000              
Convertible promissory note, additional information convertible into SEALSQ’s ordinary shares, and (ii) 122,908 warrants on the ordinary shares of SEALSQ with a 5-year maturity              
Ordinary shares reserved for issuance 8,000,000              
Debt issue cost, legal expenses $ 114,832              
Commissions to placement agent 250,000              
Additional closing fees 200,000              
Equity instrument, fair value $ 632,976              
Date of grant, market price $ 11.42              
Fair value of debt $ 4,987,363              
Debt discount, debit 323,744              
Debt to APIC 41,088              
Total debt discount $ 1,086,856              
Conversion of debt, amount         $ 4,000,000      
Conversion of debt, shares issued         3,940,630      
Private Placement | Anson Investments Master Fund                
Short-Term Debt [Line Items]                
Private placement               $ 10,000,000
Private placement, description of transaction     divided into two equal tranches, in the form of Senior Unsecured Original Issue 4% Discount Convertible Promissory Notes. The Notes shall have a 24-month maturity and bear interest at a rate of 4% per annum, subject to adjustment. The Notes will be convertible into ordinary shares of SEALSQ, partially or in full, at an initial conversion price equal to the lesser of (i) USD 30 per ordinary share and (ii) 92% of the lowest daily volume weighted average price          
Private Placement | Anson Investments Master Fund | First Tranche                
Short-Term Debt [Line Items]                
Unamortized debt discount         $ 708,062      
Amortization of debt discount     $ 563,112   198,984      
Convertible promissory note     $ 5,000,000          
Convertible promissory note, additional information     convertible into SEALSQ’s ordinary shares, and (ii) 122,908 warrants on the ordinary shares of SEALSQ with a 5-year maturity          
Ordinary shares reserved for issuance     8,000,000          
Debt issue cost, legal expenses     $ 64,832          
Commissions to placement agent     250,000          
Additional closing fees     200,000          
Equity instrument, fair value     $ 632,976          
Date of grant, market price     $ 11.42          
Fair value of debt     $ 4,987,363          
Debt discount, debit     279,375          
Debt to APIC     35,457          
Total debt discount     1,042,487          
Conversion of debt, amount         $ 4,175,000      
Conversion of debt, shares issued         3,996,493      
Private placement, available borrowings         $ 5,000,000      
Facility, additional information         the unconverted balance on the First Anson Note was USD 825,000 and the unamortized debt discount balance was USD 135,441, hence a carrying value of USD 689,559      
Proceeds from issuance of private placement     $ 5,000,000          
New ordinary shares issued   8,184            
Total issue of ordinary shares         4,004,677      
Production Capacity Investment Loan Agreement                
Short-Term Debt [Line Items]                
Proceeds from loan agreement       $ 2,000,000        
Unamortized debt discount       $ 511,128 $ 346,204 511,128    
Note payable         2,000,000 2,000,000    
Carrying value         1,653,796 $ 1,488,872    
Amortization of debt discount         $ 164,924