Sequans Communications (SQNS) to Offer ADSs

Sequans Communications S.A. (NYSE: SQNS) announced the launch of an underwritten public secondary offering of its American Depositary Shares (the “ADSs”). Each ADS represents four ordinary shares of the Company, nominal value €0.02 per share. The ADSs to be sold in the proposed offering will be offered by Nokomis Capital Master Fund, LP (“Nokomis”) and will be issued pursuant to the conversion of $12.4 million in principal and accrued paid-in-kind interest of Sequans’ convertible notes. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the number of ADSs sold by Nokomis in the proposed offering to cover over-allotments, if any. 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 over-allotment option, if exercised, for general corporate purposes, including the payment of certain expenses associated with the secondary offering.

B. Riley Securities is acting as sole bookrunner for the offering.

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