Sequans Communications (SQNS) Prices 4.85M ADS Offering at $5.15/ADS

Sequans Communications S.A. (NYSE: SQNS) today announced the pricing of an underwritten public offering of 4,854,369 American Depositary Shares (“ADSs”), representing 19,417,476 ordinary shares, at a price of $5.15 per ADS, in an underwritten public offering under an effective shelf registration statement 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 728,155 ADSs to cover overallotments, if any, in connection with the offering. After deducting the underwriting discount and estimated offering expenses payable by the Company, the Company expects to receive net proceeds of approximately $23.1 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 May 14, 2020, subject to customary closing conditions. Upon the closing of the offering, Sequans will terminate its At Market Issuance Sales Agreement, dated March 31, 2020.

B. Riley FBR, Inc. is acting as the sole book-running manager of the offering, and Roth Capital Partners, LLC is acting as the lead manager.

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