[NASDAQ-Listed Company Sequans Sells 970 Bitcoins to Reduce Debt, Stock Price Drops 16%] Odaily Planet Daily News – NASDAQ-listed semiconductor company Sequans (NASDAQ: SQNS) saw its stock price close down 16.6% on Tuesday at $5.92, a nearly 89% drop from its 2025 peak of $53.9, after selling approximately 970 Bitcoins to redeem half of its convertible debt. Sequans stated that this move is part of a 'strategic asset reallocation.' By selling about 30% of its Bitcoin holdings (reducing from 3,234 to 2,264 Bitcoins), the company lowered its outstanding debt from $189 million to $94.5 million. CEO Georges Karam said the company’s long-term belief in Bitcoin remains unchanged, but the sale was a tactical decision to unlock shareholder value given the market environment. He added that the transaction strengthens the company’s financial foundation, alleviates some debt constraints, and creates room for Sequans to pursue further strategic developments while maintaining Bitcoin as a long-term strategic reserve asset. Currently, Sequans ranks as the 33rd largest corporate Bitcoin holder globally, down four spots from its position in July when it made its purchase. (Cointelegraph)