Sequans Turns to Bitcoin for Financial Stability
Sequans Communications, which develops 4G and 5G IoT semiconductor technology, is making a significant pivot as it seeks to raise $384 million to build a Bitcoin treasury. Under the program, the company can repurchase its shares in the open market. The plan will close by July 1. It is an effort to strengthen financial footing and re-establish compliance with the NYSE.
$384M Raise Includes Equity and Convertible Debentures
Sequans will raise $195 million in equity and $189 million in convertible debentures in this move to buy Bitcoin as a long-term asset. The firm overseeing the operation will be Swan Bitcoin, an established institutional Bitcoin custody and strategy firm.
Bitcoin as a Long-Term Strategic Asset
Sequans’ CEO Georges Karam said the company made the right decision, describing Bitcoin as the “premier asset” and a “compelling long-term investment.” Furthermore, the initiative does not mark a departure from the core business, according to Sequans, but rather a way to add financial resilience and unlock value for shareholders.
“It is a powerful tool for financial stability,” said Karam of Bitcoin’s uniqueness. “We are committed to our IoT vision and want to leverage treasury innovation.”
Tech Firms Embrace Bitcoin Treasuries
Many corporations are adding Bitcoin to their records, which has driven these announcements. Companies like Metaplanet, Know Labs, and Strategy (formerly MicroStrategy) have similar treasury models. Also, Nakamoto Holdings recently raised $51.5 million to add to its Bitcoin stash. As per BitcoinTreasuries.net, there are now more than 240 businesses holding Bitcoin, collectively managing nearly 4% of the total BTC supply — nearly twice as much as just a few weeks ago.
NYSE Compliance a Driving Factor
Apart from strategic investing, the capital raise has a compliance purpose. On June 5, 2025, Sequans received notice from the NYSE that it was not in compliance with the listing standard due to its average market capitalization and shareholder equity being below the $50 million minimum. The company plans to meet listing requirements and win back investor trust by strengthening its balance sheet.
Big Tech Still Hesitant on Bitcoin
Big tech firms like Amazon, Microsoft, and Meta have not invested in Bitcoin treasuries, largely due to concerns over volatility and global regulatory risk. However, Bitcoin advocates like Michael Saylor continue to leverage convertible debt to build aggressive BTC positions.
Share Offering and Market Participation
Sequans will offer up to 1.39 billion shares and warrants, with placement by Northland Capital Markets, B. Riley Securities, and Yorkville Securities. Investors in the share offering include: C, CEEB, Commercial, ICICI, JP Morgan, Lowenstein Sandler, Morgan Stanley, and SMID.
Toward a Public Bitcoin Treasury Future
Sequans expects shareholder approval on June 30. This will enable the company to join the ranks of publicly traded firms holding Bitcoin treasuries. It also positions Sequans as a hybrid player in both the crypto and traditional finance sectors.
This decision illustrates how companies are starting to see digital assets as more than just speculative investments — instead, as key tools for financial strategy and innovation.
