Sequuans communications ” (Sqns) Surged more than 40% after the wireless-chip designer closed a $ 384 million private placement with plans to spend most of that in Bitcoin
.
Deal combines a $ 195 million sale of American shares deposits
and warrants at $ 1.40 with $ 189 million of the five-year-old-proceeds priced in a 4% discount, according to A Press release.
French -based company ads rose to $ 2.01 in Nasdaq after the announcement.
Investors can convert to $ 2.10 per part of the American deposit and, if all warrants are carried out, the sequuans can relate to another $ 57.6 million, along with funds that also mark for Bitcoin purchases.
CEO Georges Karam said the company sees the asset that enhances financial stability and creation of long -term value. Sequuans design low-strength 4G and 5G modem used in smart meters, asset trackers and industrial sensors.
Swan Bitcoin is a source and will take care of coins while the Northland capital markets and B. Riley Securities are holding financing.
The move is seeing the next -time joining a growing list of publicly exchanged companies that have adopted Bitcoin as their primary owner of the Treasury reserve. A sum of 852,309 BTC is currently held by these firms, according to Bitcointreasuries Data.
Most coins are held by approach (Mstr)with 597,325 BTC in its balance. Mara Holdings followed it (Mara) with 50,000 BTC and XXI, with 37,230 BTC.
