On November 4th, according to Investing, US-listed semiconductor company Sequans Communications (NYSE: SQNS) redeemed 50% of its convertible bonds by selling 970 bitcoins. The deal reduced the company's total debt from $189 million to $94.50 million.
Sequans currently holds 2,264 bitcoins, down from 3,234. At current market prices, the company's bitcoin net asset value is about $240 million, and the debt-to-net asset ratio has dropped from 55% to 39%.
Company CEO Georges Karam said: "Our bitcoin asset allocation strategy and strong belief in bitcoin remain unchanged, and this transaction is a tactical decision based on current market conditions to unlock shareholder value."
The debt reduction is expected to strengthen the company's previously announced ADS buyback program. Sequans, which focuses on wireless 4G/5G cellular technology in the Internet of Things, announced the adoption of Bitcoin as its primary asset allocation earlier this year.
US-listed treasury firm Sequans confirms it has sold 970 bitcoins to cut debt
2025-11-04 11:36:00
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