Sequans is raising $200 million for its ATM plan to invest in Bitcoin reserve strategy.

[Bituo] French semiconductor and internet of things company Sequans Communications (NYSE: SQNS) announced the establishment of an At The Market (ATM) equity issuance program, allowing the company to issue American depositary shares at any time based on market conditions, with each share representing 10 shares of common stock, for a total amount of up to $200 million.

Sequans stated that the program will serve as a tool for the first phase of its Bitcoin reserve strategy, with the funds raised expected to primarily be used to continue purchasing Bitcoin to support the company's long-term reserve strategy.

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