Lowenstein Sandler acted as U.S. legal counsel to Sequans Communications S.A. (NYSE: SQNS), a leading developer and provider of 5G/4G IoT semiconductors and modules, in the successful closing of its previously announced debt and equity private placement for total investment of $384 million with participation from over 40 institutional investors to implement a bitcoin treasury initiative.
This marks a major milestone in Sequans' strategic expansion into digital assets. All net proceeds from the offering will be used to purchase bitcoin, initiating the first phase of the company's previously announced bitcoin treasury strategy, and for general corporate purposes associated with purchasing bitcoin, subject to the security and collateral requirements of the offering.
The investment is intended to fund a bitcoin treasury initiative, marking a strategic expansion alongside its core semiconductor cellular IoT business.
The closing was covered in Crypto Briefing, The Economic Times, Stock Titan, Bitcoin Magazine, CoinDesk, and Yahoo! Finance, among others.
The Lowenstein team included Steven E. Siesser, Lowell A. Citron, Daniel L. Forman, Brooke A. Gillar, Ryne Miller, Sophia Mokotoff, Trevor A. Levine, Christopher M. Cozzens, Perry Laub, Lauren E. Russo, Anthony C. Santiago, and Elena Scialabba.