Sequans Takes A Page From MicroStrategy: Is Bitcoin The New Corporate Treasury Play?
Sequans Communications (NYSE:SQNS), a publicly listed semiconductor company known for its 4G and 5G IoT solutions, on Monday announced plans to raise approximately $384 million to establish a Bitcoin (CRYPTO: BTC) treasury as part of its broader strategic shift.
The company will secure the funds through a combination of private placements, including roughly $195 million in equity securities and $189 million in secured convertible debentures, according to a release issued Monday.
The funding round is expected to close by July 1, pending shareholder approval at its June 30 meeting and standard closing conditions.
“Our bitcoin treasury strategy reflects our strong conviction in Bitcoin as a premier asset and a compelling long-term investment,” said Georges Karam, CEO of Sequans. “We believe Bitcoin’s unique characteristics will enhance our financial resilience and deliver significant value …
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