Sequans Announces $200 Million Equity Plan to Accelerate Bitcoin Reserve Strategy

Odaily Planet Daily reports that French semiconductor and IoT company Sequans Communications (NYSE: SQNS) has announced the establishment of an "At the Market" (ATM) equity offering program, allowing the company to issue American Depositary Shares (ADSs) representing 10 ordinary shares at any time, depending on market conditions, for a total of up to $200 million. Sequans stated that this program will serve as the first phase of its Bitcoin reserve strategy, with the funds raised expected to be used primarily for continued Bitcoin purchases to support the company's long-term reserve strategy.