What to know:
- Sequans Communications, a company known for its wireless-chip designs, has seen its stock soar by 35% after a $384 million private placement, with the majority of the funds earmarked for bitcoin. Oh, the times, when a chip designer turns into a crypto enthusiast! 🤷♂️
- The deal, a veritable feast of financial instruments, included the sale of American depositary shares, warrants, and convertible debentures. It’s as if they’re preparing for a grand ball in the financial world, but with a crypto twist. 🎩✨
- Sequans is not alone in this peculiar journey; it joins a growing list of publicly-traded firms that have adopted bitcoin as their primary treasury reserve asset. It’s a brave new world, where the digital and the traditional collide. 🌍💻
Sequans Communications (SQNS) has experienced a surge of more than 40% in its stock price, a testament to the allure of the digital gold. After closing a $384 million private placement, the company plans to invest the majority of the funds in bitcoin. It’s as if they’ve found a new treasure map, and it’s all about the digital X marks the spot. 🗺️💰
The deal, a complex tapestry of financial wizardry, included a $195 million sale of American depositary shares and warrants at $1.40, along with $189 million of five-year secured convertible debentures priced at a 4% discount. It’s a financial ballet, with each move carefully choreographed. 🩰🎶
The France-based company’s ADSs rose to $2.01 on Nasdaq, a testament to the market’s enthusiasm for this bold move. It’s as if the market is saying, “Bravo, Sequans, for embracing the future!” 🎉👏
Investors can convert at $2.10 per American depositary share, and if all warrants are exercised, Sequans could net an additional $57.6 million, with the funds also being earmarked for bitcoin purchases. It’s a win-win, or perhaps a crypto-crypto situation. 🤑🔒
CEO Georges Karam, with the wisdom of a seasoned captain, sees the asset enhancing the company’s financial resilience and creating long-term value. Sequans, after all, designs low-power 4G and 5G modems used in smart meters, asset trackers, and industrial sensors. It’s a blend of the old and the new, the tangible and the digital. 🌐🔧
Swan Bitcoin will source and custody the coins, while Northland Capital Markets and B. Riley Securities handled the financing. It’s a team effort, with each player bringing their unique skills to the table. 🤝💪
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. It’s a digital treasure trove, with each company adding its own share to the collective wealth. 🧘♂️💎
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. It’s a digital arms race, where the currency of choice is not gold, but bitcoin. 🚀🔥
Read More
- Gold Rate Forecast
- 15 Best Sherlock Holmes Actors, Ranked from Worst to Best
- Superman’s Record-Breaking $21M+ Thursday Box Office: Highest of 2025
- Justin Bieber Teases New Album ‘SWAG’ with Tracklist Reveal
- Ultraman Live Stage Show: Kaiju Battles and LED Effects Coming to America This Fall
- KPop Demon Hunters: Is Your Idol by Saja Boys Inspired by Real K-Pop Bands? Here’s What We Know
- 📢 BrownDust2 X BiliBili World 2025 Special Coupon!
- KPop Demon Hunters’ Fictional Group Saja Boys Beats BTS record, ARMY is not happy
- Superman’s Rotten Tomatoes Score Blasts Past Expectations—Shocks Even the Harshest Critics
- Tokyo Game Show 2025 exhibitors announced
2025-07-08 19:19