Sequans Communications launches stock issuance to strengthen Bitcoin reserves

According to PANews, Sequans Communications, headquartered in Paris, announced a plan for an 'at-the-market' (ATM) stock issuance to support its long-term Bitcoin reserve strategy. The company has filed a prospectus with the U.S. Securities and Exchange Commission (SEC) for the issuance of up to $200 million in American depositary shares, each representing ten common shares.

CEO of Sequans Georges Karam stated that the plan aims to optimize the company's finances and increase Bitcoin reserves per share, thereby creating long-term value for shareholders. The funds raised will primarily be used to continue accumulating Bitcoin according to the company’s established reserve strategy. The timing and scale of the issuance will be determined based on market conditions.