Sequans Communications Slashes Debt by Selling 970 Bitcoins, Boosting Bitcoin NAV to About $240M and Strengthening ADS Buyback Prospects

Sequans Communications (NYSE: SQNS) has redeemed 50% of its convertible bonds by monetizing 970 bitcoins, reducing total debt from $189 million to $95 million. The company now holds 2,264 bitcoins, down from 3,234, with a refreshed balance sheet that underscores a more efficient leverage profile.

At current pricing, the bitcoin net asset value stands near $240 million, while the debt-to-NAV ratio improved from 55% to 39%. These metrics reflect a tighter risk posture and potentially more room for strategic capital actions.

CEO Georges Karam said the bitcoin allocation strategy and conviction remain unchanged, framing the move as tactical to unlock shareholder value. The debt reduction supports ADS buyback plans and aligns with IoT emphasis through 4G/5G cellular technology.

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