Sequans Communications S.A. (NYSE: SQNS), a global leader in cellular IoT semiconductors, has announced a new at-the-market (ATM) equity offering program that enables the company to raise up to $200 million through the sale of American Depositary Shares (ADS), with each ADS representing ten ordinary shares.
The company filed a prospectus with the U.S. Securities and Exchange Commission (SEC) under its shelf registration statement. Proceeds from the offering will be used primarily to increase Sequans’ Bitcoin holdings, making it one of the first publicly traded technology firms to formally integrate Bitcoin into its corporate treasury strategy.
Bitcoin at the Core of Sequans’ Financial Vision
CEO Dr. Georges Karam underscored that the ATM program is a key part of the company’s long-term plan to build financial strength through Bitcoin.
“This program is a tool to strengthen our treasury foundation,” Karam said. “We plan to use it carefully to optimize reserves, increase Bitcoin per share, and enhance long-term value for shareholders.”
Sequans is doubling down on its crypto-forward approach, aiming to increase the Bitcoin held per share. This move reflects the company’s confidence in Bitcoin as a strategic asset capable of driving shareholder value and financial resilience.
Timing and Sales Strategy Aligned with Market Conditions
The size and timing of any ADS sales will depend on prevailing market conditions. The ATM structure provides Sequans with flexibility to raise capital gradually, rather than issuing a large volume of shares all at once. This allows the company to act strategically — accumulating Bitcoin during favorable market periods while minimizing dilution for existing shareholders.
By launching this $200 million ATM program, Sequans further positions itself as a pioneer among tech firms integrating digital assets into their balance sheet — signaling a growing shift in how innovative companies manage reserves and long-term value creation.
