The US-listed company Sequans sold 970 bitcoins to reduce debt, and its stock price dropped by 16%

The U.S. listed semiconductor company Sequans (NASDAQ: SQNS) saw its stock price drop 16.6% to $5.92 on Tuesday after selling approximately 970 bitcoins to redeem half of its convertible debt, down nearly 89% from its 2025 peak of $53.9.

Sequans stated that this move is part of a "strategic asset reallocation." By selling about 30% of its bitcoin holdings (from 3,234 to 2,264 bitcoins), the company reduced its outstanding debt from $189 million to $94.5 million. CEO Georges Karam mentioned that the company's long-term belief in bitcoin remains unchanged, but this sale was a tactical decision to release shareholder value based on the market environment. He added that this transaction strengthens the company's financial foundation, alleviates some debt constraints, and creates space for Sequans to pursue more strategic developments while maintaining bitcoin as a long-term strategic reserve asset. Currently, Sequans is the 33rd largest corporate holder of bitcoin globally, down four places from its ranking in July when it made its purchases.