Sequans Communications (SQNS), a publicly listed semiconductor company specializing in 4G and 5G IoT solutions, is making a bold move – establishing a Bitcoin treasury worth approximately $384 million. This strategic shift, announced on Monday, reflects a growing trend among publicly traded companies exploring Bitcoin as a key component of their financial strategy. The company intends to secure these funds through a combination of private placements, including $195 million in equity securities and $189 million in secured convertible debentures. The funding round is projected to finalize by July 1st, subject to shareholder approval at their June 30th meeting and standard closing conditions.

Georges Karam, CEO of Sequans, stated, "Our bitcoin treasury strategy reflects our strong conviction in Bitcoin as a premier asset and a compelling long-term investment." He emphasized that Sequans believes Bitcoin’s unique characteristics will enhance the company’s financial resilience and deliver significant value to its shareholders. The company has partnered with Swan Bitcoin to manage the operational aspects of its Bitcoin treasury. This move aligns Sequans with a growing number of publicly traded firms that are incorporating Bitcoin into their treasury operations.

Sequans has partnered with Swan Bitcoin to manage the operational aspects of its Bitcoin treasury. Despite this expansion into cryptocurrency, the company firmly maintains its core mission: providing robust support for IoT customers and continually advancing its 4G and 5G product offerings. The private placement will consist of a diverse mix of ordinary shares, American Depositories Shares (ADSs), and common warrants, all priced at $1.40 per ADS and warrant. Crucially, the debt portion of the offering is dependent on the company successfully raising at least $195 million through the equity component. Northland Capital Markets and B. Riley Securities serve as joint lead placement agents, while Yorkville Securities is also involved in the transaction. This move aligns Sequans with a growing number of publicly traded firms that are incorporating Bitcoin into their treasury operations.

A prime example is Strategy MSTR, which began accumulating Bitcoin in 2020 and now holds over 214,400 BTC, according to their most recent filings. MicroStrategy’s aggressive Bitcoin purchases, spearheaded by Executive Chairman Michael Saylor, have solidified its position as the largest corporate holder of Bitcoin globally, playing a pivotal role in driving institutional Bitcoin adoption. Furthermore, Metaplanet, a Tokyo-listed company, is rapidly scaling its Bitcoin treasury. As of June 2025, Metaplanet has acquired 11,111 BTC at an average purchase price of $95,869 per Bitcoin, valued at approximately $1.12 billion at current market prices. The company has surpassed Coinbase Inc. in corporate Bitcoin holdings and has recently revised its goals, aiming to accumulate 30,000 BTC by the end of 2025, 100,000 BTC by 2026, and 210,000 BTC by 2027. The legal counsel for this transaction includes Lowenstein Sandler LLP and ARCHERS for Sequans, and Goodwin Procter LLP for the placement agents. This strategic investment underscores the increasing acceptance of Bitcoin within the corporate world and suggests a potential shift in how companies manage their financial assets.