Sequans partners with Swan Bitcoin for treasury management

PARIS/CALABASAS - Sequans Communications S.A. (NYSE:SQNS), a semiconductor company with strong financial fundamentals according to InvestingPro data, has signed a strategic Bitcoin Treasury Management Agreement with Swan Bitcoin, the companies announced Thursday. The company maintains a healthy balance sheet with more cash than debt and liquid assets exceeding short-term obligations.

Under the agreement, Swan will advise and implement Sequans’ Bitcoin treasury strategy, which was first announced on June 23. The semiconductor company, currently valued at $334 million, has already acquired 2,317 Bitcoin, positioning it as the 21st largest publicly traded corporate Bitcoin holder globally, according to BitcoinTreasuries.net. Despite showing strong returns over the past year with a 77% gain, the stock has experienced significant volatility, declining 21% in the past week.

Sequans recently closed a $384 million strategic investment through a private placement of convertible debt and equity to fund its Bitcoin accumulation strategy. The company has completed three major Bitcoin purchases to date: 370 BTC, 683 BTC, and 1,264 BTC, with plans to accumulate over 3,000 BTC using proceeds from the investment.

"Sequans is embracing the future of capital by adopting Bitcoin as the foundation of our corporate treasury," said Dr. Georges Karam, CEO of Sequans. "We believe Bitcoin is the world’s most pristine reserve asset."

Swan’s executive team, including CEO Cory Klippsten, CIO Ben Werkman, and CTO Yan Pritzker, will provide advisory support on all aspects of treasury implementation and strategy execution. Services will include treasury design, capital markets guidance, custody architecture, analytics, and ongoing treasury management.

Sequans Communications is a fabless semiconductor company specializing in wireless 4G/5G cellular technology for the Internet of Things (IoT). The company is headquartered in France with offices across multiple countries.

The information in this article is based on a press release statement from the companies.

In other recent news, Sequans Communications S.A. has made significant strides with its financial and product initiatives. The company recently completed a $384 million private placement offering, which will be used to support its bitcoin treasury strategy. As part of this initiative, Sequans has acquired a total of 2,317 bitcoins for approximately $270 million, with an average purchase price of $116,493 per bitcoin. This includes a recent acquisition of 1,264 bitcoins for $150 million and an earlier purchase of 683 bitcoins for $79 million.

In addition to its financial moves, Sequans has also launched the Iris line of RF Integrated Transceivers. The flagship product, Iris SQN9506, offers a wide frequency range and supports high channel density, catering to applications in defense, aerospace, drones, and 5G systems. These developments come alongside a notable stock performance, driven by the company’s strategic initiatives. Analyst firms have taken note of these moves, reflecting on the potential impact on Sequans’ future trajectory.

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