Sequans Communications S.A. (NYSE: SQNS), a company that has bravely declared bitcoin its primary treasury asset (because why not?), has launched an “at the market” equity offering program. This financial espresso shot allows them to sell up to $200 million worth of American Depositary Shares-each representing ten ordinary shares-because who needs sleep when you can mint cash and buy cryptocurrency instead?
The ATM program, conducted under a shelf registration filed with the SEC on August 25, 2025 (yes, the future is now), will operate like a chaotic game of financial Jenga. Sequans claims sales will be “driven by market conditions and other factors,” which is corporate code for “we’ll do this if the universe feels like it.” Net proceeds? Primarily for accumulating bitcoin, because nothing says “treasury strategy” like gambling with shareholders’ money in a digital ledger only a few people truly understand.
CEO Dr. Georges Karam described the ATM as a tool to “support the first phase of establishing the company’s treasury foundation.” Translation: We’re building a financial sandcastle, and bitcoin is the water. He also mentioned using the program “judiciously”-a word that now officially means “we’ll spend this on bitcoin, or perhaps just because we can.” The prospectus is available online, because nothing says “trust us” like forcing people to read 500 pages of legalese while the company buys crypto. 🚀🤷♂️
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2025-08-26 10:58