French listed company Sequans launches $200 million ATM stock program to support Bitcoin reserve strategy

Sequans Communications, headquartered in Paris, France, announced the launch of an "at the market" (ATM) equity offering program to support its long-term Bitcoin reserve strategy. The company has filed a prospectus with the U.S. Securities and Exchange Commission (SEC) for the issuance of up to $200 million in American Depositary Shares (ADSs), each representing 10 ordinary shares. Sequans CEO Georges Karam stated that the program aims to optimize the company's finances, increase its Bitcoin reserves per share, and create long-term value for shareholders. Funds from the program will be primarily used to continue accumulating Bitcoin, consistent with the company's established reserve strategy. The specific timing and size of the offering will be determined based on market conditions.