SEQUANS COMMUNICATIONS ‘ (Sqns) jumped more than 40% after the wireless chip designer closed a private investment of $ 384 million with plans to spend most of this in Bitcoin
.
The agreement combined a sale of $ 195 million in American deposit shares
And the mandates at $ 1.40 with $ 189 million in convertible deforestation guaranteed at five years at the price of a 4%discount, according to a press release.
The ADSS of the company based in France increased to $ 2.01 on the NASDAQ after the announcement.
Investors can convert $ 2.10 per US deposit share and, if all mandates are exercised, sequeurs could bring in additional $ 57.6 million, the funds being also assigned to Bitcoin purchases.
The CEO, Georges Karam, said that the company sees assets improve its financial resilience and create long -term value. The sequences design 4G and 5G modems of low power used in smart meters, active trackers and industrial sensors.
Swan Bitcoin will get their supplies and keep coins while Northland Capital Markets and B. Riley Securities have managed funding.
This decision sees Sequenians joining a growing list of listed companies adopting Bitcoin as the principal of cash reserve. A total of 852,309 BTC are currently held by these companies, according to BitcoinTheries data.
Most of these parts are held by strategy (MSTR)which has 597,325 BTC on its balance sheet. He is followed by Mara Holdings (Mara) With 50,000 BTC and XXI, with 37,230 BTC.
