Overview

• The Paris-based semiconductor firm filed a Form F-3 to sell up to $200 million in American Depositary Shares through an at-the-market program, with proceeds primarily earmarked for Bitcoin purchases.
• Sequans reports holdings of about 3,171 BTC and has publicly set a goal of reaching 100,000 BTC by 2030.
• At current prices, fully using the program could add roughly 1,800 BTC, bringing total holdings close to 5,000 BTC.
• The company says the ATM structure enables incremental issuance and market timing for purchases, with CEO Georges Karam calling for “judicious” deployment.
• The move aligns with a broader corporate trend, as about 174 publicly traded firms now hold Bitcoin on their balance sheets.