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

PANews reported on August 26 that Paris-based Sequans Communications announced the launch of its "at the market" (ATM) equity issuance program to support its long-term Bitcoin reserve strategy. The company has submitted a prospectus to the Securities and Exchange Commission (SEC) to issue up to $200 million in American depositary shares through the program, representing 10 common shares per share.

Sequans CEO Georges Karam said the plan aims to optimize the company's finances, increase Bitcoin reserves per share, and create long-term value for shareholders. The funding of the program will be mainly used to continue to accumulate Bitcoin, in line with the company's established reserve strategy. The specific issuance time and scale will be determined based on market conditions.

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