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The company will use a combination of American depositary shares, warrants and convertible debentures to raise the funds.
Jul 8, 2025, 3:23 p.m.
Sequans Communications’ (SQNS) surged more than 40% after the wireless-chip designer closed a $384 million private placement with plans to spend the bulk of that in bitcoin
.
The deal combined a $195 million sale of American depositary shares
and warrants at $1.40 with $189 million of five-year secured convertible debentures priced at a 4% discount, according to a press release.
The France-based company's ADSs rose to $2.01 on Nasdaq after the announcement.
Investors can convert at $2.10 per American depositary share and, if all warrants are exercised, Sequans could net another $57.6 million, with the funds also being earmarked for bitcoin purchases.
CEO Georges Karam said the company sees the asset enhancing its financial resilience and creating long-term value. Sequans designs low-power 4G and 5G modems used in smart meters, asset trackers and industrial sensors.
Swan Bitcoin will source and custody the coins while Northland Capital Markets and B. Riley Securities handled the financing.
The move sees Sequans join a growing list of publicly traded firms adopting bitcoin as their primary treasury reserve asset. A total of 852,309 BTC are currently held by these firms, according to Bitcointreasuries data.
The bulk of those coins are held by Strategy (MSTR), which has 597,325 BTC on its balance sheet. It’s followed by MARA Holdings (MARA) with 50,000 BTC and XXI, with 37,230 BTC.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Francisco Rodrigues
Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk's $1,000 disclosure threshold.
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