WISeSat Advances SPAC Merger, Eyes Nasdaq for Quantum-Secure Satellite Tech

ZUG, SWITZERLAND – December 29, 2025 – The race to secure the next generation of global communications has taken a significant leap forward. WISeKey International Holding AG (Nasdaq: WKEY) and Columbus Acquisition Corp. (Nasdaq: COLA) have announced a major milestone in their plan to take the satellite-based IoT security firm, WISeSat, public. The companies confirmed the confidential submission of a draft registration statement on Form F-4 with the U.S. Securities and Exchange Commission (SEC), a critical step in finalizing their proposed business combination.

The move, which follows the initial announcement of the deal on November 10, 2025, inches WISeSat closer to becoming a publicly traded entity on the Nasdaq. The transaction is structured as a merger with Columbus, a special purpose acquisition company (SPAC), which will result in a new holding company, WISeSat.Space Holdings Corp. (“Pubco”), listed on the exchange. This strategic maneuver is designed to inject capital and public market visibility into WISeSat’s ambitious mission: deploying a constellation of satellites to provide quantum-resilient connectivity for the rapidly expanding Internet of Things (IoT).

A New Era of Secure Satellite Communications

At the heart of this multi-million-dollar deal is WISeSat, a company tackling one of the most pressing challenges of the digital age: securing data in transit. As industries from logistics and agriculture to energy and defense increasingly rely on interconnected devices, the need for a secure, global communication backbone has become paramount. WISeSat aims to provide this backbone from low Earth orbit (LEO), offering a next-generation platform designed for secure, cost-effective, and universally accessible IoT connectivity.

What sets WISeSat apart in an increasingly crowded space-tech field is its deep focus on post-quantum security. The company is proactively building a network capable of withstanding the threat posed by future quantum computers, which are theoretically powerful enough to break today's standard encryption protocols. To achieve this, WISeSat’s nanosatellites are equipped with advanced cryptographic technology developed within the WISeKey ecosystem. This includes post-quantum cryptographic chips from SEALSQ Corp (NASDAQ: LAES), a semiconductor-focused subsidiary of WISeKey.

This hardware-level security is further fortified with WISeKey’s established cryptographic Root of Trust (RoT) and WISeID identity management systems. The RoT serves as a common trust anchor, ensuring the fundamental integrity of all devices and communications on the network, while WISeID provides secure authentication. To ensure data integrity and transparency, the platform also integrates Hedera's distributed ledger technology (DLT), creating a decentralized and tamper-proof record of transactions and data exchanges. This layered security architecture is engineered to provide an end-to-end, quantum-resilient framework for a new generation of autonomous IoT infrastructure.

From Proof of Concept to Global Constellation

WISeSat is not starting from scratch. The company has already made tangible progress, with 22 satellites launched to date, 14 of which are currently operational in its LEO constellation. The company's vision extends far beyond its current fleet, with an ambitious goal to deploy a total of 100 satellites by 2030, creating a robust global network.

A pivotal moment in this journey occurred just this month. In December 2025, WISeSat successfully launched its next-generation, post-quantum-secure satellite as a crucial proof-of-concept mission. Deployed from Vandenberg Space Force Base in California aboard a SpaceX Falcon 9 rocket, the satellite is serving as a live testbed for SEALSQ’s Quantum Shield technology and a new suite of post-quantum communication protocols. This mission represents a critical validation of the company's core technology, demonstrating its capability to enable secure, satellite-based IoT and device-to-device connectivity that is resilient against future threats.

Building on the data and insights gathered from these in-orbit tests, WISeSat is already planning its next major step. The company intends to launch a full-functional satellite integrating the advanced QS7001 chipset in the first quarter of 2026. This aggressive timeline underscores WISeSat's commitment to pioneering sovereign and sustainable space communications, positioning itself as a leader in safeguarding digital infrastructure against the looming cybersecurity challenges of the quantum computing era.

The Mechanics of the Public Debut

The path to the public market is being facilitated by Columbus Acquisition Corp., a SPAC led by Chairman and CEO Fen “Eric” Zhang. Under the terms of the Business Combination Agreement, both WISeSat and Columbus will become wholly-owned subsidiaries of the newly formed British Virgin Islands holding company, Pubco, which is expected to trade on Nasdaq.

Upon closing, WISeSat shareholders will exchange their shares for Pubco shares with an aggregate value of $250 million, subject to adjustments for transaction financing. Concurrently, each outstanding ordinary share of Columbus will convert into one share of Pubco, and every seven Columbus rights will be eligible to convert into one Pubco share. To fuel its growth, the combined entity is expected to secure financing arrangements for at least $10.0 million in proceeds, which will be used to support ongoing operations and commercialization efforts.

Any cash remaining in Columbus’s trust account after redemptions by its public shareholders will be contributed to Pubco, providing additional capital. In a move that could benefit existing WISeKey investors, the agreement allows WISeKey the option to distribute up to 10% of the Pubco shares it receives to its own shareholders immediately after the transaction closes. The deal has already received unanimous approval from the boards of WISeKey, WISeSat, and Columbus, and now awaits the crucial approval of Columbus shareholders and the satisfaction of other customary closing conditions.

Navigating the Regulatory Path to Market

The confidential submission of the Form F-4 registration statement is a standard and important step in the de-SPAC process, allowing the SEC to provide initial feedback before a public filing. Once the SEC declares the registration statement effective, a definitive proxy statement and prospectus will be sent to Columbus shareholders, who will then vote on the proposed business combination.

The transaction brings together WISeKey's deep expertise in cybersecurity and cryptography with Columbus's access to public capital markets. The combination is poised to create a focused, publicly-traded company dedicated to a critical niche: securing the sprawling Internet of Things from orbit. By leveraging a vertically integrated technology stack, from post-quantum semiconductors to a secure satellite network, WISeSat is positioning itself to capture a significant share of a market essential for global economic and security infrastructure.