Sequans Communications (SQNS) Prices 15.15M ADS Offering for Net Proceeds of $22.9M

September 15, 2016 9:03 AM EDT

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

Sequans Communications S.A. (NYSE: SQNS) 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 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 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.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, Equity Offerings

Related Entities

Canaccord Genuity, Definitive Agreement

Add Your Comment