Sequans Communications S.A. Announces Pricing of Underwritten Public Offering of American Depositary Shares
September 15 2016 - 9:00AM
Business Wire
Sequans Communications S.A. (NYSE: SQNS), (“Sequans”, or the
“Company”), a leading provider of single-mode 4G LTE wireless
semiconductor solutions for Internet of Things (“IoT”) and a wide
range of broadband data devices, today announced the pricing of an
underwritten public offering of American Depositary Shares (ADSs),
representing 15,151,520 ordinary shares, at a price of $1.65 per
ADS, in an underwritten public offering under an effective shelf
registration statement (the “Offering”) filed with the Securities
and Exchange Commission (the “SEC”). The Company has also granted
to the underwriters a 30-day option to acquire an additional
2,272,728 ADSs to cover overallotments, if any, in connection with
the Offering. After the underwriting discount and estimated
offering expenses payable by the Company, the Company expects to
receive net proceeds of approximately $22.9 million, assuming no
exercise of the overallotment option. The Company intends to use
the net proceeds from the Offering for general corporate purposes.
The Offering is expected to close on September 20, 2016, subject to
customary closing conditions.
Canaccord Genuity is acting as the sole book-running manager of
the offering.
The ADSs described above are being offered by Sequans pursuant
to a shelf registration statement on Form F-3, including a base
prospectus, previously filed with and subsequently declared
effective by the SEC. The securities may be offered only by means
of a prospectus. A preliminary prospectus supplement and
accompanying base prospectus relating to the offering was filed
with the SEC on September 14, 2016 and a final prospectus
supplement and accompanying base prospectus relating to the
Offering will be filed with the SEC and will be available on the
SEC’s website at http://www.sec.gov. Copies of the final prospectus
supplement and accompanying base prospectus relating to this
Offering may also be obtained, when available, from the Syndicate
Department of Canaccord Genuity Inc., Attention: Syndicate
Department, 99 High Street, 12th Floor, Boston, Massachusetts
02110, or by telephone at (617) 371-3900, by email at
prospectus@canaccordgenuity.com. Before you invest, you should read
the final prospectus supplement and the accompanying base
prospectus and other documents Sequans has filed or will file with
the SEC for more complete information about Sequans and the
Offering.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Sequans Communications
Sequans Communications S.A. (NYSE: SQNS) is a leading provider
of single-mode 4G LTE wireless semiconductor solutions for Internet
of Things (“IoT”) and a wide range of broadband data devices.
Founded in 2003, Sequans has developed and delivered seven
generations of 4G technology and its chips are certified and
shipping in 4G networks around the world. Today, Sequans offers two
LTE product lines: StreamliteLTE™, optimized for Internet of Things
and M2M devices and StreamrichLTE™, optimized for feature-rich
mobile computing and home and portable router devices. The Company
is based in Paris, France with additional offices in the United
States, United Kingdom, Israel, Hong Kong, Singapore, Taiwan, South
Korea, and China.
Safe Harbor
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995
regarding the expected closing of the public offering and the
intended use of proceeds from the offering. These forward-looking
statements are subject to risks and uncertainties that may cause
actual results to differ materially, including the satisfaction of
the conditions to closing of the offering, risks associated with
the cash requirements of our business and other risks detailed from
time to time in our filings with the Securities and Exchange
Commission, and represent our views only as of the date they are
made and should not be relied upon as representing our views as of
any subsequent date. We do not assume any obligation to update any
forward-looking statements.
Disclaimer
The announcement is for information purposes only and does not,
and shall not, in any circumstances, constitute a public offering
by Sequans, nor a solicitation of an offer to subscribe for
securities in any jurisdiction outside the United States, including
France. No prospectus (including any amendment, supplement or
replacement thereto) or any other offering material has been
prepared in connection with the offering of the ADSs that has been
approved by the Autorité des marchés financiers or by the competent
authority of another State that is a contracting party to the
Agreement on the European Economic Area and notified to the
Autorité des marchés financiers; no ADSs have been offered or sold
nor will be offered or sold, directly or indirectly, to the public
in France; the prospectus or any other offering material relating
to the ADSs have not been distributed or caused to be distributed
and will not be distributed or caused to be distributed to the
public in France; such offers, sales and distributions have been
and shall only be made in France to persons licensed to provide the
investment service of portfolio management for the account of third
parties, qualified investors (investisseurs qualifiés) and/or
restricted circle of investors (cercle restreint d’investisseurs),
in each case investing for their own account, all as defined in
Articles L. 411-2, D. 411-1, D. 411-4, D.744-1, D.754-1 and D.
764-1 of the French Code monétaire et financier. The direct or
indirect distribution to the public in France of any so acquired
ADSs may be made only as provided by Articles L. 411-1, L. 411-2,
L. 412-1 and L. 621-8 to L. 621-8-3 of the French Code monétaire et
financier and applicable regulations thereunder. This communication
does not constitute an offer or invitation to subscribe for or to
purchase any of the ADSs and neither this communication nor
anything herein shall form the basis of any contract or commitment
whatsoever. Any contact with potential qualified investors in
France does not and will not constitute financial and banking
solicitation (démarchage bancaire et financier) as set forth in
Articles L. 341-1 and seq. of the French Code monétaire et
financier.
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version on businesswire.com: http://www.businesswire.com/news/home/20160915005772/en/
Sequans Communications S.A.Media Relations:Kimberly Tassin,
+1-425-736-0569Kimberly@sequans.comorInvestor Relations:Claudia
Gatlin, +1-212-830-9080Claudia@sequans.com
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