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Sequans to Raise $200 Million for Bitcoin Treasury via NYSE Share Sale

Key Takeaways

  • ​Sequans Communications filed for a $200 million share offering to fund its long-term plan of holding Bitcoin as part of its treasury;
  • The company already owns over 3,000 BTC, valued at nearly $331 million, and aims to reach 100,000 BTC by 2030;
  • Including a $189 million raise in July, Sequans has secured about $376 million to support its Bitcoin-focused reserve strategy.

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Sequans to Raise $200 Million for Bitcoin Treasury via NYSE Share Sale

Sequans Communications, a semiconductor company based in Paris and listed on the New York Stock Exchange (NYSE), has launched a new plan to grow its Bitcoin BTC $115,663.43 reserves.

The firm has filed for an at-the-market (ATM) share offering that could bring in as much as $200 million. Most of this funding is set to support its long-term strategy of holding Bitcoin as part of its company reserves.

The company’s CEO, Dr. Georges Karam, described the plan as a cautious and structured approach to strengthening the company’s financial base. Instead of making large, one-time purchases, the ATM setup allows Sequans to gradually issue shares and raise funds based on market conditions.

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This latest effort adds to the company’s previous fundraising in July, when it brought in $189 million through a mix of convertible bonds and warrants. Together, Sequans has raised around $376 million in recent months to support its Bitcoin strategy and financial goals.

Under the newly filed program, Sequans will sell American Depositary Shares (ADSs), which are used by non-US companies to let American investors buy their stock more easily.

As of now, Sequans already owns over 3,000 BTC, a total valued at nearly $331 million. That makes it one of the top Bitcoin-holding companies in Europe, second only to Germany’s Bitcoin Group SE. The company’s longer-term goal is to hold 100,000 Bitcoin by the year 2030.

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Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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