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
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.
And did you buy in the end @BlokchainB? Great trade so far. I bought 100 shares initially and earlier today 125 more. I'm very happy. Not that it affects my portfolio or anything, but it's always fun to have these side bets.
I'll hold it for a while, though it will depend if they'll make future purchases.
Yeah it’s up 87% today. Swan is partnering with them. I didn’t buy any shares but this company isn’t over leveraged (right now) adding Bitcoin seems to be a legitimate growth strategy for them
I bought that k33 too today. 10k shares at 0.08.
Seems like the first Norwegian public company that's gonna stack hard. There might be a benefit when it's the only Bitcoin treasury company within its jurisdiction (a metaplanet equivalent), i.e. mandated institutions will want to buy it despite the mNAV as they don't have any other means of gaining exposure.
I don't mind taking small bets like this without knowing too much. Imo in the worst case they'll recover with bitcoin's rise. Ok, there might some bad luck (but didn't flare my spidey senses), but it doesn't feel like there's much to lose if one does multiple small side bets like that.
That SQNS will make up one stock going completely to 0.
Yeah I hear ya if you got extra fiat roll the dice
yolo. bought 100 shares
Nice!!