Sequans Communications S.A. Announces Launch of Public Offering of American Depositary Shares
May 11 2020 - 4:08PM
Business Wire
Sequans Communications S.A. (NYSE: SQNS) (the “Company” or
“SQNS”), a leading developer and provider of 5G and 4G chips and
modules for IoT devices, today announced the launch of an
underwritten registered public offering of its American Depositary
Shares. Each American Depositary Share represents four ordinary
shares of the Company, nominal value €0.02 per share (the “ADSs”).
The Company expects to grant the underwriters a 30-day option to
purchase up to an additional 15% of its ADSs sold in the proposed
offering. All ADSs to be sold in the proposed offering will be
offered by the Company. The proposed offering is subject to market
and other conditions, and there can be no assurance as to whether
or when the offering may be completed, or as to the actual size or
terms of the offering. The Company intends to use the net proceeds
from the offering, if completed, for general corporate purposes,
which may include 5G product development. Upon the closing of the
offering, Sequans will terminate its At Market Issuance Sales
Agreement, dated March 31, 2020.
B. Riley FBR is acting as sole bookrunner for the offering. Roth
Capital Partners is acting as co-manager for the offering.
The proposed offering is being made pursuant to the Company’s
shelf registration statement on Form F-3 (File No. 333-221919) that
was declared effective by the Securities and Exchange Commission
(“SEC”) on December 22, 2017. The ADSs may be offered only by means
of a prospectus. A preliminary prospectus supplement describing the
terms of the proposed offering and the accompanying base prospectus
will be filed with the SEC and will be available on the SEC’s
website located at http://www.sec.gov. Alternatively, copies of the
preliminary prospectus supplement and accompanying prospectus
relating to the proposed offering, when available, may be obtained
from B. Riley FBR, Inc., Attention: Prospectus Department, 1300
17th St. North, Ste. 1300, Arlington, VA 22209, or by email at
prospectuses@brileyfbr.com, or by telephone at (703) 312-9580. The
final terms of the proposed offering will be disclosed in a final
prospectus supplement to be filed with the SEC.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, 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 developer
and provider of 5G and 4G chips and modules for IoT devices. For
5G/4G massive IoT applications, Sequans provides a comprehensive
product portfolio based on its flagship Monarch LTE-M/NB-IoT and
Calliope Cat 1 chip platforms, featuring industry-leading low power
consumption, a large set of integrated functionalities, and global
deployment capability. For 5G/4G broadband and critical IoT
applications, Sequans offers a product portfolio based on its
Cassiopeia 4G Cat 4/Cat 6 and high-end Taurus 5G chip platforms,
optimized for low-cost residential, enterprise, and industrial
applications. Founded in 2003, Sequans is based in Paris, France
with additional offices in the United States, United Kingdom,
Israel, Hong Kong, Singapore, Sweden, Taiwan, South Korea, and
China.
Forward-Looking Statements
This press release contains forward-looking statements (within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended).
Words such as “anticipate,” “believe,” “expect,” “intend,” “may,”
“will,” and similar expressions are intended to identify
forward-looking statements. The forward-looking statements in this
press release include statements about the Company’s expectations
regarding the completion of its proposed public offering, its
expectations with respect to granting the underwriters a 30-day
option to purchase additional ADSs and the anticipated use of
proceeds from the offering. These statements involve risks,
estimates, assumptions and uncertainties that could cause actual
results to differ materially from those expressed in these
statements, including, among others, risks and uncertainties
associated with market conditions and the satisfaction of customary
closing conditions related to the proposed offering, as well as
risks and uncertainties associated with the Company’s business and
finances in general. In addition, please refer to the risk factors
contained in the Company’s Form 20-F for the fiscal year ended
December 31, 2019 and other SEC filings available at www.sec.gov.
Given these risks and uncertainties, readers are cautioned not to
place undue reliance on any forward-looking statements, which speak
only as of the date on which they are made. The Company undertakes
no obligation to update or revise any forward-looking statements
for any reason, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20200511005898/en/
Investor Contacts: Media Relations: Kimberly Tassin,
+1.425.736.0569, Kimberly@sequans.com Investor Relations: Claudia
Gatlin, +1 212.830.9080, Claudia@sequans.com
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