Sequans Communications S.A. a leading developer and provider of 5G and 4G chips and modules for IoT devices, announced the launch of an underwritten public offering of American Depositary Shares representing its ordinary 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 the ADSs sold in the proposed offering. All ADSs to be sold in the proposed offering will represent ordinary shares 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.
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- Riley Securities is acting as sole bookrunner for the offering. Roth Capital Partners is acting as lead manager for the offering.
The proposed offering is being made pursuant to the Company’s shelf registration statement on Form F-3 (File No. 333-250122) that was declared effective by the Securities and Exchange Commission (the “SEC”) on November 24, 2020. 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 Securities, Inc., Attention: Prospectus Department, 1300 17th St. North, Ste. 1300, Arlington, VA 22209, or by email at prospectuses@brileyfin.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.
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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.
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