Sequans Files For $200 Million Equity Offering To Buy More Bitcoin
French semiconductor company Sequans Communications has filed to sell up to $200 million of American Depositary Shares in an at-the-market equity offering to support its Bitcoin treasury strategy. The company has set an ambitious longer-term goal to accumulate 100,000 Bitcoin by 2030.
The program would allow Sequans to issue U.S. dollar–denominated ADSs traded on U.S. exchanges at the company’s discretion, with net proceeds intended primarily for continuing to buy and hold Bitcoin as a treasury asset. The company described the share sales as dependent on market conditions and other factors.
Sequans said it plans to use the offering “judiciously to optimize our treasury, increase Bitcoin per share, and deliver long-term value to shareholders,” according to a statement from CEO Georges Karam. At the time of the filing, the company reported holding 3,171 BTC on its balance sheet, worth approximately $349 million — making it Europe’s second-largest corporate Bitcoin treasury after Germany’s Bitcoin Group SE.
Based on current market levels cited in the filing, $200 million could buy roughly another 1,814 Bitcoin, which would bring Sequans’s total holdings to nearly 5,000 BTC. The company emphasized that timing and the amount of any share sales under the program will be determined by Sequans.
The announcement comes amid a recent pullback in Bitcoin’s price to about $110,045, roughly 11.6% below the article’s referenced all-time high of $124,517. Other corporate treasury moves continue in the market: larger holders have been adding to positions while some companies have shifted focus to Ether treasuries, contributing to notable price action across both assets.
Sequans first revealed its plan to make Bitcoin a core treasury asset in June, joining a growing roster of publicly traded firms that hold crypto on their balance sheets as an inflation hedge and store of value. The number of public companies holding Bitcoin has risen substantially in recent months, reflecting increasing corporate interest in crypto as part of treasury management.
