Sequans Communications, a semiconductor company based in Paris and listed on the New York Stock Exchange (NYSE), has launched a new plan to grow its Bitcoin
The firm has filed for an at-the-market (ATM) share offering that could bring in as much as $200 million. Most of this funding is set to support its long-term strategy of holding Bitcoin as part of its company reserves.
The company’s CEO, Dr. Georges Karam, described the plan as a cautious and structured approach to strengthening the company’s financial base. Instead of making large, one-time purchases, the ATM setup allows Sequans to gradually issue shares and raise funds based on market conditions.
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This latest effort adds to the company’s previous fundraising in July, when it brought in $189 million through a mix of convertible bonds and warrants. Together, Sequans has raised around $376 million in recent months to support its Bitcoin strategy and financial goals.
Under the newly filed program, Sequans will sell American Depositary Shares (ADSs), which are used by non-US companies to let American investors buy their stock more easily.
As of now, Sequans already owns over 3,000 BTC, a total valued at nearly $331 million. That makes it one of the top Bitcoin-holding companies in Europe, second only to Germany’s Bitcoin Group SE. The company’s longer-term goal is to hold 100,000 Bitcoin by the year 2030.
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