Sequans Sells Soul (and Bitcoin) for Debt Relief 😂💸

According to the Sequans’ (NYSE: SQNS) proclamation on the fourth day of November, this sacrifice of Bitcoin funded the redemption of half their convertible debt from the seventh day of July. Thus, their debt shrank from $189 million to a mere $94.5 million, while their Bitcoin reserves dwindled from 3,234 BTC to 2,264 BTC. At the current market price, their Bitcoin net asset value (NAV) standeth at $240 million, reducing their debt-to-NAV ratio from 55% to 39%. A victory, they claim, yet the crowd doth murmur with skepticism.







