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Sequans Communications SA Prices Underwritten Public Offering Of American Depositary Shares


Friday, 15 Feb 2013 09:14am EST 

Sequans Communications SA announced the pricing of an underwritten public offering of American Depositary Shares (ADSs), representing 9,000,000 ordinary shares, at a price of $1.50 per ADS. The Company has also granted to the underwriters a 30-day option to acquire an additional 1,000,000 ADSs to cover over allotments, 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 $12.1 million, assuming no exercise of the over allotment option. The offering is expected to close on February 21, 2013, subject to customary closing conditions. Needham & Company is acting as the sole underwriter of the offering. Sequans intends to use the net proceeds from the offering for general corporate purposes. 

Company Quote

1.44
0.0 +0.00%
21 Nov 2014