Sequans Communications has secured $384 million in funding to establish a corporate Bitcoin treasury strategy, signaling a strategic pivot toward digital asset adoption. The semiconductor design firm aims to utilize the capital for Bitcoin acquisitions, positioning itself among companies diversifying reserves into cryptocurrency.
The financing involved 139.4 million American Depositary Shares (ADSs) and convertible debentures, generating $195 million from ADS and warrant sales. An additional $57.6 million could be raised if all warrants are fully exercised, further supporting Bitcoin purchases.
To implement its treasury strategy, Sequans partnered with Swan Bitcoin for cryptocurrency custody solutions and regulatory risk mitigation. This collaboration ensures secure asset management amid evolving compliance requirements.
The private placement was jointly led by Northland Capital Markets and B. Riley Securities. Legal advisory services were provided by Lowenstein Sandler LLP, ARCHERS AARPI, and Goodwin Procter LLP.
Sequans’ entry into Bitcoin reserves may catalyze similar moves among mid-cap companies exploring cryptocurrency diversification, reflecting a broader trend of corporations integrating digital assets into treasury management frameworks.