French listed company Sequans launches $200 million ATM stock program to support Bitcoin reserve strategy

PANews reported on August 26 that Sequans Communications, headquartered in Paris, France, announced the launch of an "at the market" (ATM) equity issuance program to support its long-term Bitcoin reserve strategy. The company has filed a prospectus with the U.S. Securities and Exchange Commission (SEC) and plans to issue up to $200 million in American Depositary Shares (ADSs), each representing 10 ordinary shares, through the program.

Sequans CEO Georges Karam stated that the plan aims to optimize the company's finances, increase its Bitcoin reserves per share, and create long-term value for shareholders. Funds from the plan will be primarily used to continue accumulating Bitcoin, consistent with the company's established reserve strategy. The specific issuance timing and scale will be determined based on market conditions.