Sequans Announces $200 Million Equity Plan to Accelerate Bitcoin Reserve Strategy

BlockBeats News, August 26th, French semiconductor and IoT company Sequans Communications (NYSE: SQNS) announced the establishment of an "At The Market" (ATM) equity offering plan. The company may issue American Depositary Shares at any time based on market conditions, with each share representing 10 ordinary shares, for a total amount of up to $200 million.

Sequans stated that this plan will serve as a tool for the first phase of its Bitcoin reserve strategy, with the funds raised expected to be primarily used to continue purchasing Bitcoin to support the company's long-term reserve strategy.