Sequans (SQNS): Selling Some of Its BTC Stack

Sequans (SQNS): Selling Some of its BTC Stack

Sequans sold 970 Bitcoin to redeem half of its convertible debt, reducing total liabilities from $189 million to $94.5 million.

Sequans shares drop 16% after selling 970 Bitcoin to cut debt

Semiconductor company Sequans dropped over 16% on Tuesday after selling 970 Bitcoin to redeem 50% of its outstanding convertible debt.

Sequans Communications becomes first DAT company to sell BTC for servicing debt

Sequans Communications (SQNS) is the first Bitcoin treasury company to sell coins in order to balance its debt. The company sold 970 BTC at a time when market prices remained shaky.  Sequans Communications (SQNS) sold 970 BTC from its treasury to service debt. Sequans is starting a precedent among playbook companies in selling their treasuries to improve asset balance. Following the news of the sale, BTC traded under $102,000, extending its slid…

Sequans Sells 970 Bitcoin to Slash Debt, Bitcoin Price Slumps to $101,000  - Coin Surges

Bitcoin Magazine Sequans Sells 970 Bitcoin to Slash Debt, Bitcoin Price Slumps to $101,000  Sequans Communications S.A. (NYSE: SQNS) sold 970 Bitcoin to redeem 50% of its July convertible debt. The move reduced total debt from $189 million to $94.5 million. The company’s Bitcoin treasury now stands at 2,264 BTC, worth about $240 million. This lowers Sequans’ debt-to-net-asset-value ratio from 55% to 39%. The sale frees up capital and boosts flex…

Sequans Sells 970 Bitcoin To Slash Some Of Its Debt

Sequans Communications sold 970 BTC to cut its convertible debt in half, leaving a 2,264 BTC treasury and improving its debt-to-NAV ratio.

‘Strategic Asset Reallocation’: Sequans’ Bitcoin Sale Gets Roasted Online

Sequans Communications S.A., a firm that adopted bitcoin as its primary treasury reserve asset, confirmed the sale of 970 BTC to reduce debt and strengthen its balance sheet. The move follows similar actions from other digital asset treasury (DAT) firms, including ethereum-focused ETHzilla, which re...