Core Points - Sequans Communications has announced a buyback program for up to 1.57 million American Depositary Shares (ADSs), representing approximately 10% of its outstanding ADSs, to be executed by June 30, 2026 [1][2] - The buyback program is part of the company's dynamic treasury strategy, which includes raising capital to grow Bitcoin holdings and enhance net asset value [2][4] - The company views Bitcoin as a long-term investment and aims to accumulate it as its primary treasury reserve asset [4][5] Company Strategy - The buyback program allows Sequans to repurchase ADSs at its discretion, depending on market conditions and legal compliance [2][3] - The company has established an Automated Teller Machine (ATM) tool to facilitate capital raising for increasing Bitcoin holdings [2] - Sequans' treasury strategy is designed to be flexible and responsive to market opportunities [2] Company Overview - Sequans Communications specializes in wireless 4G/5G cellular technology for the Internet of Things (IoT) and is a pioneer in Bitcoin Treasury [4][5] - The company offers a comprehensive portfolio of 4G/5G solutions tailored for IoT applications, focusing on innovation in wireless connectivity, power efficiency, and security [5] - Founded in 2003 and headquartered in France, Sequans operates globally with offices in multiple countries [6]

Core Viewpoint - Sequans Communications has announced a change in the ratio of its American Depositary Shares (ADS) to ordinary shares, moving from 1:10 to 1:100, effective September 17, 2025, to enhance market appeal and operational efficiency [1][2][3]. Company Overview - Sequans Communications S.A. is a fabless semiconductor company specializing in wireless 4G/5G cellular technology for the Internet of Things (IoT) and is a pioneer in adopting Bitcoin as a treasury reserve asset [5][8]. - The company intends to strategically accumulate Bitcoin as its primary treasury reserve asset, utilizing proceeds from equity and debt issuances, as well as cash generated from operations [5]. ADS Ratio Change Details - The new ADS ratio will be effective before trading begins on the NYSE on September 17, 2025, and will function similarly to a one-for-ten reverse ADS split [2][3]. - Holders of ADSs will not need to take action for the automatic exchange, while those with certificate form ADSs must exchange their certificates at a rate of 10 old ADSs for 1 new ADS [3]. Objectives of the ADS Ratio Change - **Practicality and Convenience**: The change aims to reduce the number of outstanding ADSs for operational efficiency following a capital increase in July 2025 [7]. - **Enhanced Market Appeal**: A higher per-ADS price is expected to attract a broader range of institutional investors [7]. - **Regulatory Compliance and Strategic Flexibility**: The adjustment will help ensure compliance with NYSE listing requirements and provide resilience against market volatility [7]. Technology and Innovation - Sequans develops technologies for AI-connected applications, including secured payments, smart mobility, and smart cities, and offers a comprehensive portfolio of 4G/5G solutions tailored for IoT [8].

Core Viewpoint - Sequans Communications has strategically increased its Bitcoin holdings, acquiring an additional 34 bitcoins for approximately $3.8 million, bringing its total to 3,205 bitcoins valued at around $374 million, reflecting a long-term investment strategy in Bitcoin as a primary treasury reserve asset [1][2][3]. Group 1: Company Overview - Sequans Communications S.A. is a leading fabless semiconductor company specializing in wireless 4G/5G cellular technology for the Internet of Things (IoT) and is recognized as a pioneer in Bitcoin treasury management [3][5]. - The company intends to accumulate Bitcoin using net proceeds from equity and debt issuances, as well as cash generated from operations and intellectual property monetization [3]. Group 2: Financial Details - The recent acquisition of 34 bitcoins was made at an average price of $111,374 per bitcoin, inclusive of fees [1]. - The total net investment in Bitcoin amounts to approximately $374 million, with an average acquisition price of $116,653 per bitcoin [2]. Group 3: Strategic Positioning - Sequans aims to combine its strategic Bitcoin reserve with a strong focus on semiconductor innovation to create long-term value [4]. - The company develops technologies for AI-connected applications, including secured payment systems, smart mobility, and smart cities, which are supported by its comprehensive portfolio of 4G/5G solutions [4].