Sequans Communications, a Paris-based semiconductor firm, has filed to raise up to $200 million through an at-the-market equity program, primarily aimed at expanding its Bitcoin reserves as part of a long-term treasury strategy. The company's CEO, Dr. Georges Karam, emphasized the judicious use of these funds to optimize their treasury. Currently, Sequans holds over 3,000 Bitcoin, valued at approximately $331 million, and aims to accumulate a target of 100,000 Bitcoin by 2030. Following a recent successful financing round that raised $189 million through secured convertible debentures, this new equity program marks the beginning of establishing its treasury foundation. The program allows Sequans to issue American Depositary Shares at its discretion, facilitating investments from U.S. investors. While the strategy has the potential for high returns, it also carries risks, such as dilution of existing shares due to equity funding and exposure to Bitcoin's price volatility.

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