Sem Sequans Communications Sequans Communications has finalized a significant $384 million investment strategy, allocating funds towards bolstering its financial resilience.
The allocation comprises $195 million in equity alongside a $189 million investment directly into Bitcoin, establishing a corporate Bitcoin treasury reserve.
Following the announcement, Sequans’ shares experienced a substantial surge, climbing 60% in pre-market trading.
The strategic move aims to stabilize the company’s listing status on the New York Stock Exchange (NYSE), which had been under threat due to Sequans’ market capitalization falling below the $50 million threshold.
CEO Georges Karam underscored the long-term vision driving the adoption of a Bitcoin treasury strategy.
Sequans’ approach aligns with a growing trend of corporate Bitcoin adoption, exemplified by companies like MicroStrategy, which has accumulated a substantial Bitcoin reserve since 2020.