Sequans CommunicationsIt is a semiconductor company that focuses on the semiconductor technology 5G/4G/4G Closed A 384 million dollar strategic investment to start the Bitcoin initiative for the Treasury Department. The deal collects between $ 195 million from stock financing and $ 189 million of guaranteed exposed bonds, which reflects the appetite of the increasing institutions of Bitcoin.
The offer included the sale of more than 139 million American Wadih shares (ADSS), with additional joint orders that can be exercised within 90 days, which contributes to $ 195 million in total revenues. The amount of $ 189 million was issued in convertible bonds, due on July 7, 2028, with a 4 % discount and comes with more common orders. If all orders are practiced, Sequans can get another $ 57.6 million, which is primarily allocated to purchase an additional Bitcoin.
“With this funding closed, we are excited to start implementing the Bitcoin Treasury Strategy,” said George Karam, CEO of Sequans. “We believe that the unique Bitcoin properties will enhance our financial flexibility and create a long -term value for our shareholders. Our intention is to continue to get Bitcoin in the future, using excess cash resulting from our basic commercial operations and additional returns.”
To implement this strategy safely and transparently, Sequans will participate with them BitcoinIt is a pioneer in bitcoin financial services in the United States specializing in reservation, liquidity and institutional strategy.
Securities were submitted through a special situation and were not registered under the 1933 US Securities Law. Northland Capital Markets and B. Riley Securities were a joint employment body, with the participation of Yorkville Securities. Legal support came from Lownstein Sandler LLP (US) and the company (France) of the company, and goodwin ProCter LLP for applicant.
This announcement follows the disclosure of Sequans on June 23 for its plan to raise $ 384 million to the treasury strategy that focuses on Bitcoin. Karam said last month: “The strategy of the Ministry of Treasury in Bitcoin reflects our strong condemnation in Bitcoin as a major asset and a convincing long -term investment.” This previous statement laid the basis for closing today.
At that time, Karam also stressed that the transition to Bitcoin will not take from the basic sequans. He said: “We are still supporting our customers through a powerful road map and 5G,” strengthening the company’s constant focus on creating the Internet of Things. The Bitcoin strategy is designed to run it in parallel-adding financial strength while Sequans continues to build the next generation connection solutions.
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