Sequans Communications issues shares to increase long-term Bitcoin reserves.
The company filed with the U.S. SEC to issue up to $200 million in shares, using the capital to increase Bitcoin reserves according to its long-term financial strategy.
MAIN CONTENT
Sequans plans to issue ADS worth up to $200 million.
The strategy aims to optimize finances and increase Bitcoin reserves per share.
The timing and scale of the issuance will be flexible according to market conditions.
How does Sequans Communications announce its share issuance program?
Sequans Communications, based in Paris, France, announced the plan to issue shares "at the market" (ATM) to support its long-term Bitcoin reserve strategy. The company has filed a prospectus with the U.S. Securities and Exchange Commission (SEC) for approval.
Specifically, Sequans intends to issue up to $200 million in American Depositary Shares (ADS), with each ADS representing 10 common shares. This is a proactive step to raise new capital to enhance the Bitcoin reserves that the company pursues.
What are the values and objectives of Sequans' share issuance program?
According to CEO Georges Karam, the program is designed to optimize the company's financial structure, increase the amount of Bitcoin reserves per share, and create sustainable value for shareholders.
Most of the raised capital will be continuously invested in Bitcoin, in accordance with the strategy established by the company. This helps Sequans strengthen its long-term position in the cryptocurrency market while ensuring financial effectiveness for shareholders.
On what basis will Sequans decide when to issue shares?
Sequans stated that the timing and actual scale of each issuance will depend on market conditions. The company prioritizes maintaining flexibility to seize the best opportunities and minimize risks.
This strategy reflects the company's caution while committing to ensure long-term benefits for shareholders and maintaining a planned Bitcoin reserve.
"This plan aims to optimize finances, increase Bitcoin reserves per share, and create long-term value for Sequans' shareholders."
– Georges Karam, CEO of Sequans Communications, 26/8/2023
Frequently Asked Questions
What does Sequans issue shares for?
Sequans issues shares to raise funds to support the long-term Bitcoin accumulation strategy, optimize finances, and increase shareholder value.
How much value in shares does Sequans plan to issue?
The company plans to issue up to $200 million in American Depositary Shares (ADS).
When will the share issuance take place?
The timing and scale of the issuance will be adjusted flexibly based on market conditions.
How do Sequans' ADS represent shares?
Each ADS of Sequans represents 10 common shares of the company.
What is the connection between Sequans' Bitcoin strategy and the issuance?
The entire raised capital is primarily allocated to increase Bitcoin reserves according to the established financial strategy.
Source: https://tintucbitcoin.com/sequans-phat-hanh-atm-co-phieu-200-trieu-usd/
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