Sequans completed a $384 million financing to launch an enterprise-level Bitcoin allocation strategy.

▍Funding Core: Bitcoin Reserve Program Implementation 5G/4G IoT chip leader Sequans Communications ( NYSE code: SQNS) announced on July 8 that it has completed $384 million in private fundraising, with participation from over 40 institutional investors. All net proceeds will be used for:

1. Implement Bitcoin treasury strategy (First phase enterprise-level Bitcoin allocation)
2. Related operating expenses (including security and compliance costs)

▍Financing Structure Analysis This issuance includes a triple encrypted asset allocation fund pool:

• Equity Financing: Issued 139.4 million ADS (each = 10 common shares), subscription price $1.40/share → Raised 195 million USD
• Warrants: Accompanied by 20.9 million ADS subscription rights (exercisable within 90 days)
• Convertible Bonds: Issued $189 million secured convertible bonds (due in 2028/4% discount issuance), attached with 20 million ADS subscription rights → Total fundraising of $376 million

Note: If all warrants are exercised in full (exercise price $1.40/ADS), an additional $57.6 million in Bitcoin allocation will be funded. The convertible bond conversion price is $2.10/ADS (dynamically adjustable).

▍Enterprise-level Bitcoin Configuration Solution CEO Georges Karam clarifies the execution path:

"The unique attributes of Bitcoin will enhance financial resilience and create long-term value for shareholders. This will continue in the future through:

• Core Business Cash Flow
• Additional Financing Income Increase holdings of Bitcoin assets.

▍Strategic Cooperation: Choose Swan Bitcoin Custody To ensure institutional-grade digital asset custody security, Sequans will collaborate with top Bitcoin service provider Swan Bitcoin to achieve: ✅ Secure Execution ✅ Robust governance structure ✅ Market Transparency

▍Intermediary Institutions

• Lead Underwriters: Northland Capital Markets & B. Riley Securities
• Placement Agent: Yorkville Securities
• Legal Advisors: Lowenstein Sandler LLP (USA), ARCHERS (France), Goodwin Procter (Underwriters)

▍Legal Disclaimer This issuance is conducted in accordance with the Reg D private placement provisions of the U.S. Securities Act, and the relevant securities have not yet been registered. The company will provide investors with resale registration rights.