Sequans Communications (SQNS) Announces Launch of Public Offering of ADSs

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.

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