On June 23, according to official sources, Sequans Communications S.A. (NYSE: SQNS), a 5G/4G IoT semiconductor and module developer and supplier, announced today the launch of a Bitcoin treasury initiative, marking a strategic expansion beyond its core cellular IoT semiconductor business.
To advance this plan, the company has reached an agreement to issue and sell approximately $195 million in equity securities and convertible secured bonds with a principal amount of $189 million through a private placement, with a total financing size of approximately $384 million.