Sequans’ communications (SQNS) It increased more than 40% after the wireless chip designer closed a private location of $ 384 million with plans to spend most of that in Bitcoin
.
The agreement combined a sale of $ 195 million of US depository shares
and guarantees $ 1.40 with $ 189 million of five -year safe convertible obligations with a 4%discount, according to a press release.
The company’s ads with headquarters in France rose to $ 2.01 in Nasdaq after the announcement.
Investors can convert $ 2.10 per American depositary action and, if all warrants are exercised, sequans could obtain another $ 57.6 million, and the funds are also allocated to Bitcoin’s purchases.
CEO Georges Karam said the company sees that the asset improves its financial resistance and creates a long -term value. SAQUANS DESIGN MODEMS 4G AND 5G OF LOW POWER USED IN INTELLIGENT METERS, INDUSTRIAL ASSETS AND SENSORS.
Swan Bitcoin will obtain and custody the coins, while Northland Capital Markets and B. Riley Securities managed financing.
The measure sees the henchmen to join a growing list of companies that are publicly marketed that Bitcoin adopt as their main treasure reserve asset. According to these companies, they have a total of 852,309 BTC, according to Bitcintrease data.
Most of these coins are maintained by strategy (Mstr)which has 597,325 BTC in its balance sheet. It is followed by Mara Holdings (Mara) with 50,000 BTC and XXI, with 37,230 BTC.
