Summary
- French semiconductor company Sequans has announced the launch of an ATM offering of up to $200 million.
- The raised funds will reportedly be used to accumulate Bitcoin reserves.
- Sequans stated that this program was introduced with the aim of increasing Bitcoin holdings per share and enhancing shareholder value.
French semiconductor company and NASDAQ-listed firm Sequans Communications is expanding its Bitcoin (BTC) reserve strategy.
On the 25th (local time), Sequans announced on its official website that it is launching an ATM (At The Market) offering of up to $200 million. The funds raised from the offering will be used for future Bitcoin reserves.
Specifically, Sequans will sequentially sell its American Depositary Shares (ADS) in the market.
Georges Karam, CEO of Sequans, said, "We have introduced this program in line with our strategy to make Bitcoin a major financial asset," adding, "We aim to enhance long-term shareholder value by optimizing our financial structure and increasing our Bitcoin holdings per share."
Uk Jin
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