Telecommunication firm Sequans (NYSE:SQNS) has introduced that it’s going to elevate $384 million to launch a bitcoin treasury, in accordance with a press launch.
The corporate has agreed to subject and promote $195 million in fairness securities and $189 million in convertible secured debentures.
“Our bitcoin treasury technique displays our sturdy conviction in bitcoin as a premier asset and a compelling long-term funding,” stated Georges Karam, CEO of Sequans.
Sequans chosen U.S.-based bitcoin-only monetary companies agency Swan Bitcoin as a companion to help with its treasury technique.
SQNS shares are up 14% in pre-market buying and selling, altering fingers at $2.21 per share.
The choice to undertake a bitcoin treasury follows within the footsteps of a number of publicly-listed firms of late, with healthcare, mining and media firms all buying bitcoin in current weeks.
Bitcoin is at present buying and selling at about $101,000, modestly bouncing from its panicky decline over the weekend following the U.S. strikes in opposition to Iran.
