Sequans Communications' stock surged 35% following a $384 million private placement, primarily aimed at investing in bitcoin. This financing involved selling American depositary shares, warrants, and convertible debentures. Specifically, the company conducted a $195 million sale of shares and warrants at $1.40 each, alongside $189 million in secured convertible debentures offered at a 4% discount. The company’s share price rose to $2.01 on the Nasdaq after this announcement. Investors can convert their holdings at $2.10 per share, and if all warrants are exercised, Sequans could accrue an additional $57.6 million for bitcoin purchases. CEO Georges Karam indicated that this move would bolster the company’s financial stability and long-term value. Sequans joins a growing number of publicly traded firms that view bitcoin as a key treasury reserve asset, contributing to the 852,309 BTC currently held by such companies.

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