US-listed semiconductor company Sequans Communications (NYSE:SQNS) reduced its total debt from $189 million to $94.5 million by selling 970 bitcoins to redeem approximately 50% of its convertible bonds. Sequans now holds 2,264 bitcoins, down from 3,234 previously. At current market prices, its net asset value in bitcoins is approximately $240 million, and its debt-to-net-worth ratio decreased from 55% to 39%. CEO Georges Karam stated that the company's bitcoin allocation strategy and long-term beliefs remain unchanged, and this sale was a tactical decision based on market conditions aimed at optimizing its balance sheet and enhancing shareholder value. This debt reduction will reportedly strengthen the company's previously announced ADS buyback program. Sequans primarily focuses on IoT wireless 4G/5G cellular technology. (Investing)