Sequans CommunicationsThe company, which specializes in 5G/4G IoT technology semiconductors, is based on fabless semiconductors. officially closed A $384-million strategic investment will kick start its Bitcoin Treasury Initiative This deal includes $195 in equity funding and $189 in convertible secured debentures. It reflects the growing appetite of institutions for Bitcoin.
This offering included over 139 millions American Depositary Shares, with common warrants that could be exercised within 90 days. The gross proceeds were $195,000,000. Convertible debentures worth $189 million, with a maturity date of July 7, 2028 and a discount of 4%, came along with additional common warrants. Sequans can earn an additional $57.6M if all warrants exercised. This money is earmarked for new investments. Bitcoin purchases.
“With the closing of this financing, we are excited to begin executing our bitcoin treasury strategy,” Georges Karam CEO 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 and Sequans partner to implement the strategy in a transparent, secure manner. Swan BitcoinThe leading Bitcoin-based financial services company in the United States, is a leader in liquidity and institutional strategy, as well as custody.
Securities were sold via private placement, and not registered in accordance with the U.S. Securities Act of 1934. Northland Capital Markets acted jointly as the lead placement agent, along with B. Riley Securities. Yorkville Securities was also involved. Lowenstein Sandler LLP and ARCHERS, both in the U.S. and France respectively, provided legal support for the firm and Goodwin Procter LLP on behalf of the agents.
Sequans has announced this announcement. June 23 disclosure The plan is to raise $384,000,000 for a Bitcoin-focused Treasury strategy. “Our Bitcoin treasury strategy reflects our strong conviction in Bitcoin as a premier asset and a compelling long-term investment,” Karam stated last month. The earlier announcement laid the foundation for today’s closure.
Karam stressed at that time the fact that Sequans’ main business would remain intact if they moved into Bitcoin. “We continue to support our customers with a robust 4G and 5G product roadmap,” “This reinforces the ongoing commitment of our company to IoT Innovation,” he added. The Bitcoin strategy is designed to run in parallel—adding financial strength while Sequans continues building next-gen connectivity solutions.
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Source: bitcoinmagazine.com
