Sequans Communications (SQNS) just dropped a bombshell, raising $384M to dive headfirst into bitcoin ($BTC ). Their stock? Up 35% to $2.01 on Nasdaq! 📈 Check the finance card above for the latest price action. The France-based chip designer, known for 4G/5G modems in smart meters and sensors, used a mix of American depositary shares ($195M at $1.40), warrants, and $189M in convertible debentures to fund this bold move. Investors can convert at $2.10 per share, and if warrants are exercised, Sequans could snag another $57.6M for more $BTC buys.
CEO Georges Karam says bitcoin will supercharge their treasury and drive long-term value. Swan Bitcoin’s handling the coins, with Northland Capital and B. Riley sealing the deal. Sequans joins heavyweights like MicroStrategy (597,325 BTC) and MARA Holdings (50,000 BTC) in the corporate bitcoin rush—852,309 BTC total held by public firms! #BitcoinTreasury
