According to The Block, the publicly listed company Sequans Communications in Paris, France, announced the completion of all convertible debt redemptions related to Bitcoin reserves, selling approximately 80% of its Bitcoin holdings to repay the debt, and currently only 658 BTC remain, which are fully unrestricted.
The company’s CEO Georges Karam stated that this move marks a strengthening of the company’s balance sheet and a simplification of its capital structure, and in the future, the company will fully focus on the scaled expansion of its 4G/5G IoT semiconductor, RF transceiver, and defense wireless application businesses.