Sequans Announces $384M Strategic Investment to Launch Bitcoin Treasury Initiative

Paris, France--(Newsfile Corp. - June 23, 2025) - Sequans Communications S.A. (NYSE: SQNS) ("Sequans" or the "Company"), a leading developer and provider of 5G/4G IoT semiconductors and modules, today announced it is establishing a bitcoin treasury initiative, marking a strategic expansion alongside its core semiconductor cellular IoT business.

To implement this initiative, the Company has agreed to issue and sell approximately $195 million in equity securities and $189 million in principal amount of convertible secured debentures, for total gross proceeds of approximately $384 million, through private placement offerings.

"Our bitcoin treasury strategy reflects our strong conviction in bitcoin as a premier asset and a compelling long-term investment," said Georges Karam, CEO of Sequans. "We believe bitcoin's unique characteristics will enhance our financial resilience and deliver significant value to our shareholders."

To implement this initiative, the Company expects to partner with Swan Bitcoin, a leading provider of bitcoin treasury management solutions.

While launching this new initiative, Sequans remains committed to its core mission of advancing cellular IoT. "We continue to support our customers with a robust 4G and 5G product roadmap, delivering innovative solutions to meet evolving IoT application needs and ensuring a seamless transition from 4G to 5G," Karam added.

The Company has entered into definitive agreements for the purchase and sale of (i) an aggregate of 1,392,857,140 ordinary shares, nominal value €0.01 per share, of the Company (the "Ordinary Shares"), represented by 139,285,714 American Depositary Shares (the "ADSs") (or pre-funded warrants in lieu thereof), and common warrants to purchase up to 208,928,460 Ordinary Shares represented by 20,892,846 ADSs (or pre-funded warrants in lieu thereof) exercisable within 90 days of the closing of the Equity Private Placement (as defined below), at a combined purchase price of $1.40 per ADS and common warrant, the equivalent of $0.14 per Ordinary Share and common warrant at the current ratio, in a private placement (the "Equity Private Placement") and (ii) secured convertible debentures (the "Secured Convertible Debentures") in the aggregate principal amount of $189 million and common warrants to purchase up to 202,499,980 Ordinary Shares represented by 20,249,998 ADSs (or pre-funded warrants in lieu thereof) exercisable within 90 days of the closing of the Debt Private Placement (as defined below) in a private placement (the "Debt Private Placement" and, together with the Equity Private Placement, the "Offering").