Sequans Communications, a France-based developer of 5G and IoT semiconductor know-how, has introduced a transfer into Bitcoin with a brand new treasury initiative backed by a $384 million personal placement.
The funding consists of $195 million in fairness securities and $189 million in convertible secured notes. Sequans plans to allocate this capital towards constructing a Bitcoin place alongside its core IoT operations.
“Our Bitcoin treasury strategy reflects our strong conviction in Bitcoin as a premier asset and a compelling long-term investment,” stated Georges Karam, CEO of Sequans. “We believe Bitcoin’s unique characteristics will enhance our financial resilience and deliver significant value to our shareholders.”
To information its treasury technique, Sequans is partnering with Swan Bitcoin, a U.S.-based agency specializing in Bitcoin custody, institutional liquidity, and funding technique. Swan will assist the corporate navigate the operational and safety facets of Bitcoin acquisition and storage.
Throughout the brand new initiative, Karam emphasised that Sequans stays dedicated to its main mission. “We continue to support our customers with a robust 4G and 5G product roadmap, delivering innovative solutions to meet evolving IoT application needs and ensuring a seamless transition from 4G to 5G,” he stated.
Sequans will subject over 1.39 billion bizarre shares and warrants within the fairness providing and extra warrants tied to the debt placement. The providing is anticipated to shut by July 1, pending shareholder approval at a June 30 assembly.
Placement brokers embody Northland Capital Markets, B. Riley Securities, and Yorkville Securities. Authorized counsel consists of Lowenstein Sandler LLP (U.S.) and ARCHERS (France) for Sequans, and Goodwin Procter LLP for the brokers.
The transfer aligns Sequans with a rising pattern of public firms leveraging Bitcoin as a treasury asset—a technique popularized by companies like Technique and Semler Scientific. Sequans at present holds a market cap of round $40 million. Its shares dropped 12% to $1.62 in Monday buying and selling following the announcement.
