5G Chipmaker Sequans (SQNS) Joins the Bitcoin Treasury Strategy Rush \ stacker news ~Stacker

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Sequans (SQNS) is raising $384 million—$195M in equity and $189M in convertible debentures—to launch a bitcoin treasury.

The company has partnered with Swan Bitcoin and cited strong long-term confidence in bitcoin as a premier asset.

https://en.wikipedia.org/wiki/Sequans

Sequans Communications is a fabless semiconductor company that designs, develops, and markets integrated circuits ("chips") and modules for 4G and 5G cellular IoT devices. The company is based in Paris, France with offices in the United States, United Kingdom, Israel, Hong Kong, Singapore, Taiwan, South Korea, Finland and China

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131 sats \ 0 replies \ @BlokchainB 23 Jun

Looked into this company and it IPO’ed at $90 a share in 2011 and it’s down 97% since

So early investors got absolutely rekt.

But now they have a flawless balance sheet

And they are profitable

But earnings are expected to decline.

The ownership profile seems to be evenly distributed

This dilution and debt is an attempt to spark a business that isn't in a terrible spot.

Wonder how the market will react to this news. I would buy this stock based upon the balance sheet and being bullish on 5G and now they are adding Bitcoin they have an opportunity to outperform Bitcoin in fiat terms.

0 sats \ 0 replies \ @bitcoingraffiti 23 Jun

yolo. bought 100 shares