Sequans Communications S.A. (SQNS)

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Sequans Communications S.A. Announces Pricing of Underwritten Public Offering of American Depositary Shares

Wed June 14, 2017 8:45 AM|Business Wire|About: SQNS
PARIS--(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 (HHH) 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 3,750,000 ordinary shares, at a price of $3.80 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 562,500 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 $12.9 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 June 19, 2017, subject to customary closing conditions.

Canaccord Genuity is acting as the sole book-running manager of the offering and B. Riley (RILY) is acting as co-manager.

The ADSs described above are being offered by Sequans (SQNS) 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 June 13, 2017 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 [phone], by email at [e-mail]. 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 the 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: StreamrichLTE™, optimized for broadband devices, including CPE, mobile and portable routers, and high-performance IoT devices, and StreamliteLTE™, optimized for lower data rate and narrowband IoT devices. The Company is based in Paris, France with additional offices in the United States, United Kingdom, Israel, Hong Kong, Singapore, Sweden, Taiwan, South Korea, and China.