12 Satellites in Proposed Usage Arrangement from WISeSat to Support SEALSQ’s Quantum Initiative

Key Facts

WISeSat is considering a commercial arrangement that would give SEALSQ the right to use capacity on an initial group of 12 satellites to support the QSOC initiative, according to a company disclosure filed with the U.S. Securities and Exchange Commission. The proposed arrangement would not transfer ownership of the satellites to SEALSQ, but would provide it with dedicated capacity to develop and deliver services related to the initiative. WISeSat said the usage right has not yet been entered into and that pricing arrangements with SEALSQ remain unsettled. The final agreements that will govern the relationship between the parties have also not been completed. The project therefore remains at the proposed-arrangement stage, with no disclosed cost for the capacity or effective agreement covering it.

According to WISeSat’s disclosure, unresolved matters include agreements covering the manufacture and launch of satellites related to the arrangement. The company said the final agreements governing the usage right have not been completed, nor have any agreements specifically covering manufacturing or launch. This means the details for implementing the initial group, as well as the terms for making the capacity available, still require subsequent agreements. The disclosure describes the project as a right to use space capacity, not a satellite purchase deal. This structure provides a proposed framework for using WISeSat services in SEALSQ’s initiative, but does not establish that the capacity is already available.

Under the model described by WISeSat, the company would retain legal ownership or the primary interest in the relevant satellites, along with operational control over them. It would also remain responsible for operating the constellation, related services and ground infrastructure. SEALSQ, meanwhile, would not own the satellites, but would use dedicated capacity to support the development and delivery of selected services related to QSOC. WISeSat said the expected usage right would not be exclusive to SEALSQ with respect to satellite capacity. It noted, however, the possibility that SEALSQ’s technologies and chips could be restricted to the company under the arrangement being considered.

SEALSQ places the initiative within its efforts to develop quantum and post-quantum services that rely on space infrastructure and related communications. The company said WISeSat capacity and the accompanying space and ground infrastructure would support the development and delivery of those services. The QSOC plan targets a constellation of up to 100 satellites, with full operational capability in 2033. In an earlier update during 2026, SEALSQ said it had secured access to 21 satellites already launched through WISeSat, 14 of which were operational at the time of the update. This places the proposed usage arrangement for the initial satellites within a broader plan, with further expansion stages still dependent on implementation and the necessary agreements.

In its disclosure, SEALSQ linked QSOC’s success to completing acceptable arrangements with WISeSat and obtaining the expected capacity and services. It warned that failure to complete those arrangements could delay the initiative’s development, testing, validation and commercialization. WISeSat, for its part, does not expect significant revenue from QSOC before the first of the new satellites is deployed. The company said the initial launches are currently expected in 2027. Completion of the agreements, manufacturing and launches are therefore key milestones before the proposed capacity can become an operational service or a source of revenue for the initiative.

The proposed capacity arrangement should be distinguished from a separate equity investment in WISeSat announced by SEALSQ. WISeQey disclosed that SEALSQ had agreed to a PIPE investment of $10,000,000 in WISeSat shares at the closing of the transaction, at $10.79 per share. This investment concerns equity financing and does not represent the cost of the satellite usage right or a price for the proposed capacity. In the market, SEALSQ shares, trading under the ticker LAES, closed at $1.55 on October 23, 2026, while WISeSat shares, trading under the ticker SAIQ, closed at $6.12 on the same day. These prices are for the October 23 session and do not represent the closing prices for the session on which the arrangement was announced on October 26.