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Sequans Raises $384 Million for Bitcoin Treasury as Shares Soar

Management says bitcoin’s unique properties will strengthen its balance sheet resilience to drive long-term shareholder value.

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Overview

  • Sequans closed a $384 million debt-equity private placement combining a $195 million sale of nearly 140 million American Depositary Shares and warrants with $189 million of five-year secured convertible debentures.
  • All proceeds will be used immediately to purchase bitcoin as the first phase of the company’s previously announced treasury strategy.
  • U.S.-listed shares on Nasdaq jumped over 30 percent to about $2.01 following the fundraising announcement.
  • CEO Georges Karam said the firm expects bitcoin to bolster its financial resilience and generate sustained value for shareholders.
  • Sequans joins a growing cohort of public companies holding over 850,000 BTC collectively and plans to expand its reserves through operational cash flow and future financings.