Sequans Communications (NYSE: SQNS) has initiated an At The Market (ATM) equity offering, enabling the company to issue American Depositary Shares—each representing ten ordinary shares—up to a total of $200 million. The issuance program provides a flexible capital-raising mechanism that can be executed incrementally in response to prevailing market liquidity and pricing dynamics.
The company disclosed that proceeds from the offering are intended to fund the first phase of its Bitcoin reserve strategy, with management indicating funds will be primarily allocated to continued Bitcoin purchases to bolster the firm’s long-term reserve position. This approach aligns capital deployment with treasury reserve objectives while maintaining strategic optionality.
The ATM facility will be implemented subject to market conditions and regulatory requirements, allowing Sequans to monetize equity opportunistically without committing to a single-block placement, which may help manage dilution over time.