Sequans Communications Amplifies Bitcoin Portfolio with Major Acquisition
Sequans Communications, a renowned French fabless semiconductor corporation, has made headlines today with a strategic acquisition of 1,264 Bitcoin (BTC), amounting to $150 million. This purchase price translates to approximately $118,659 per BTC, significantly boosting the company’s total Bitcoin holdings to an impressive 2,317 BTC.
Significant Expansion of Sequans’ Bitcoin Assets
In a recent announcement, Sequans, listed on the New York Stock Exchange (NYSE), disclosed its latest BTC acquisition of 1,264 coins. With this addition, the company now possesses a total of 2,317 BTC, secured at an average price of $116,493 per coin, inclusive of fees.
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Driven by a robust Bitcoin treasury strategy, Sequans successfully wrapped up a $384 million private placement. CEO Georges Karam highlighted that the firm’s decision to amplify its BTC exposure aligns with its objective to fortify financial resilience and explore long-term strategic opportunities.
Financial Strategy and Market Impact
The deal’s structure incorporates a $195 million sale of American depository shares (ADS), alongside warrants priced at $1.40. Furthermore, it includes five-year secured convertible debentures valued at $189 million, with a 4% discount. Following this announcement, Sequans’ stock price surged by 8.2%, reaching $2.89, though it remains 12.5% lower on a year-to-date (YTD) basis.
This acquisition positions Sequans Communications among the top publicly traded companies with substantial Bitcoin treasuries. According to CoinGecko, only 17 companies globally hold more than 2,000 BTC on their balance sheets.
Global Bitcoin Acquisition Trends
The past week has witnessed a remarkable surge in Bitcoin acquisition activities. From July 14 to July 19, there were at least 58 public announcements regarding BTC purchases by institutional investors.
Notably, Japanese company Metaplanet recently announced acquiring 797 BTC, elevating its total holdings to 16,352 BTC. Similarly, Nasdaq-listed Semler Scientific unveiled a 210 BTC acquisition. The corporate adoption of Bitcoin is expanding beyond traditional US and Asian players, with Canadian firms now exploring BTC for treasury allocations. If the current market momentum persists, this trend could accelerate significantly.
At the time of writing, Bitcoin is trading at $118,933, marking a 0.5% increase in the last 24 hours.
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