Sequans Raises $200 Million to Boost Bitcoin Holdings

French semiconductor firm Sequans Communications has filed a $200 million at-the-market equity offering with the US Securities and Exchange Commission (SEC). This move will enable the company to issue American Depositary Shares (ADS) at its discretion. The proceeds will primarily be used to expand their Bitcoin reserves, reflecting their commitment to utilizing Bitcoin as a core treasury reserve. Sequans currently holds 3,171 BTC worth approximately $349 million, and plans to increase these holdings through the equity offering, potentially boosting their total reserves by nearly 5,000 BTC if fully executed.