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.