Sequans Bets Big: $384M Bitcoin Treasury Move to Jumpstart Business Revival

Sequans just threw a Hail Mary pass—with Bitcoin as the quarterback. The semiconductor firm's $384 million crypto pivot screams 'adapt or die' in today's merciless tech landscape.

High-Stakes Crypto Gambit

No timid dollar-cost averaging here. Sequans is dumping nearly 400 million into BTC reserves—a move that'll either look genius or desperate when the next halving hits. Corporate treasuries are becoming the new crypto whales.

Silicon Meets Satoshis

The playbook? Use Bitcoin's volatility as rocket fuel for stagnant growth. Because when your core business stumbles, why not hitch a ride on the world's most unpredictable asset class? (Wall Street analysts are already placing bets on how fast this gets copied.)

Closing Thought: Nothing revives a struggling company like gambling shareholder money on digital gold—the modern equivalent of mortgaging the factory to buy lottery tickets.

Equity and debt placement terms finalized

Sequans has reportedly entered into definitive agreements to issue around $195 million in equity and $189 million in secured convertible debentures. The combined gross proceeds will total approximately $384 million. The funding will be raised through two separate private placements, one for equity and one for debt.

The equity component includes the sale of approximately 1.39 billion ordinary shares, equivalent to 139.3 million American Depositary Shares (ADSs), along with common warrants exercisable within 90 days. 

The securities are priced at a combined $1.40 per ADS and warrant, or $0.14 per ordinary share and warrant. In total, this tranche is expected to raise $195 million.

“The debt portion includes secured convertible debentures amounting to $189 million and additional common warrants for roughly 202.5 million ordinary shares, also exercisable within 90 days of closing,” the statement read.

Companies seek crypto holdings expansion

According to Sequans CEO Georges Karam, the Bitcoin treasury strategy is a long-term bet on the potential of the digital asset’s growth. 

“Our bitcoin treasury strategy shows our strong conviction in bitcoin as a premier asset and a compelling long-term investment,” Karam surmised. “We believe bitcoin’s unique characteristics will enhance our financial resilience and deliver significant value to our shareholders.”

Still, the company reiterated that it is dedicated to its telecommunications mission. “We continue to support our customers with a robust 4G and 5G product roadmap,” Karam added.

Northland Capital Markets and B. Riley Securities will be the joint lead placement agents, while Yorkville Securities could be added as an additional placement agent. Legal counsel for Sequans includes Lowenstein Sandler LLP in the US and ARCHERS (AARPI) in France. Goodwin Procter LLP is advising the placement agents in both jurisdictions.

Meanwhile, ECD Automotive Design Inc., a US restorer of luxury Land Rover and Jaguar vehicles, announced it has signed a $500 million equity facility with ECDA Bitcoin Treasury LLC. Much like Sequans, the company said the funding will support its plans to implement a Bitcoin treasury strategy.

“We are excited to secure this significant financing option, which strengthens our financial foundation and enables us to diversify our treasury strategy with Bitcoin,” Ben Piggott, CFO of ECD Automotive Design, said in a press conference earlier today.

NYSE compliance bump amid crypto collaboration

The announcement comes shortly after Sequans received a compliance warning from the New York Stock Exchange. On June 5, 2025, the NYSE issued a notice indicating that the company no longer met listing requirements under Section 802.01B of the NYSE Listed Company Manual.

The deficiency lies in Sequans’ global market capitalization falling below $50 million over a 30-day trading period, combined with shareholder equity also below that threshold. The notice requires the company to submit a plan within 90 days detailing how it intends to regain compliance within a nine-month period.

The NYSE will review the proposed plan and determine within 45 days if Sequans has a credible way to reinstate its compliance. The company’s ADSs will continue trading during the review and cure period, provided other listing standards are met.

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