US-listed company Sequans sold 970 bitcoins to reduce debt, causing its stock price to plummet 16%.

Sequans (NASDAQ: SQNS), a U.S.-listed semiconductor company, saw its shares fall 16.6% to $5.92 on Tuesday, a drop of nearly 89% from its 2025 high of $53.90, after selling approximately 970 bitcoins to redeem half of its convertible debt. Sequans stated that this move was a "strategic asset reallocation," reducing its outstanding debt from $189 million to $94.5 million by selling approximately 30% of its bitcoin holdings (from 3,234 to 2,264). CEO Georges Karam stated that the company's long-term belief in bitcoin remains unchanged, but this sale was a tactical decision based on market conditions to unlock shareholder value. He added that the transaction strengthens the company's financial foundation, removes some debt constraints, and will create space for Sequans to pursue further strategic developments while maintaining bitcoin as a long-term strategic reserve asset. Sequans is currently the 33rd largest corporate bitcoin holder globally, down four places from its purchase in July. (Cointelegraph)