Sequans Communications, a Paris-based company, has secured 384 million USD through a mix of debt and equity from over 40 institutional investors. These funds will be utilized to build a Bitcoin treasury, enhancing the company’s financial stability.
After announcing the Bitcoin treasury initiative, Sequans’ stock price jumped by 60% to 2.3 USD in pre-market trading. The company is now partnering with Swan Bitcoin to facilitate the acquisition and management of their Bitcoin assets.
Sequans is addressing a notice of non-compliance from the NYSE due to low market capitalization, currently standing at approximately 38 million USD. They are in a nine-month period to present a strategy to regain compliance.
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