Microvast Holdings announces departure of chief financial officer
Sequans Communications S.A. (SQNS) signed a strategic agreement with Swan Bitcoin to implement its Bitcoin treasury strategy, according to a company statement. The cellular IoT semiconductor provider plans to use Swan’s advisory services for treasury design, custody architecture, and ongoing management of its Bitcoin holdings.
Sequans closed a $384 million strategic investment through convertible debt and equity to fund its Bitcoin accumulation plan. The company targets acquiring over 3,000 BTC using proceeds from this investment. Three Bitcoin purchases have been completed, totaling 2,317 BTC as of July 18, consisting of acquisitions of 370 BTC, 683 BTC, and 1,264 BTC.
According to BitcoinTreasuries.net, these holdings position Sequans as the 21st largest publicly traded corporate Bitcoin treasury globally. Swan Bitcoin’s executive team, including CEO Cory Klippsten, CIO Ben Werkman, and CTO Yan Pritzker, will provide formal advisory support for the strategy implementation.
"Sequans is establishing itself as an innovator in corporate finance by adopting a Bitcoin treasury strategy," said Klippsten. "With a strong balance sheet and clear vision for the future, Sequans is poised to lead among Bitcoin Treasury Companies."
Dr. Georges Karam, CEO of Sequans, stated the company views "Bitcoin as the world’s most pristine reserve asset" and aims to "maximize Bitcoin per share and deliver long-term value to our shareholders."
Sequans specializes in 4G and 5G chipsets and modules for IoT applications. The company, founded in 2003 and headquartered in France, operates globally with offices across multiple countries including the United States, United Kingdom, and China.