French semiconductor company Sequence plans to raise $200 million to secure 100,000 bitcoins

French semiconductor company Sequans Communications has announced it plans to hold a total of 100,000 bitcoins by 2030.
Sequans recently announced it would pursue a $200 million initial public offering (ATM) to leverage Bitcoin as its core financial asset.
According to documents filed with the U.S. Securities and Exchange Commission (SEC) on the 25th (local time), Sequans plans to raise funds by issuing American Depositary Receipts (ADRs) that can be listed and traded in the United States.
The timing and size of the issuance will be determined autonomously based on market conditions and other factors. CEO Georges KARAM said, "We will use funds prudently to optimize our financial strategy and aim to achieve a minimum bitcoin per share.
"We will continue to grow our holdings and enhance long-term shareholder value," he said. Paris-based Sequence currently holds 3,171 BTC, according to Bitcoin financial data provider BitBo.
(approximately $349 million) and the German Bitcoin Group.
It is the second largest corporate Bitcoin holder in Europe after SE (12,387 BTC).
With the $200 million raised, approximately 1,814 BTC can be purchased, bringing the total holdings to approximately 5,000 BTC.
It is expected to be at the same level as the company's subsidiary, Scientific.