Sequans to Launch Bitcoin Treasury Initiative with $384M Strategic Investment

July 8, 2025

DENVER, Colo., Jul 08, 2025 (247marketnews.com)- Sequans Communications (NYSE:SQNS) secured a total of $384 million in capital to implement the Company’s Bitcoin treasury initiative, reflecting a significant strategic expansion into digital asset management.

The previously disclosed private placement offerings of debt and equity securities, attracted participation from over 40 institutional investors and marks a pivotal step in Sequans’ financial strategy, positioning Bitcoin as a core asset on the Company’s balance sheet. Net proceeds will be used to purchase Bitcoin, in alignment with the initial phase of Sequans’ treasury management roadmap. A portion of the funds may also be applied toward general corporate purposes related to this strategy, consistent with the Offering’s security and collateral terms.

The equity portion of the Offering consisted of approximately 139.4 million American Depositary Shares (“ADSs”), each representing 10 ordinary shares of the Company, at a combined price of $1.40 per ADS and common warrant, raising $195 million in gross proceeds. Investors also received common warrants to purchase up to 20.9 million additional ADSs, exercisable within 90 days of closing.

Additionally, Sequans issued $189 million in secured convertible debentures due July 7, 2028, issued at a 4% original issue discount, along with warrants to purchase an additional 20.2 million ADSs. These debentures are convertible into ordinary shares (or pre-funded warrants in lieu thereof) at a conversion price of $2.10 per ADS, subject to adjustment.

Should all common warrants be exercised in full, Sequans could realize an additional $57.6 million in gross proceeds—also earmarked for Bitcoin purchases.

“With the closing of this financing, we are excited to begin executing our bitcoin treasury strategy,” said Georges Karam, CEO of Sequans. “We believe bitcoin’s unique properties will enhance our financial resilience and create long-term value for our shareholders. Our intention is to continue acquiring bitcoin in the future, using excess cash generated from our core business operations and additional proceeds.”

Sequans plans to partner with Swan Bitcoin, a leading Bitcoin financial services and institutional platform, to implement the initiative and ensure secure custody, transparent governance, and best-in-class execution as the Company builds its long-term Bitcoin reserve.

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