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Sequans Communications SA announces exercise and closing of over-allotment option

Thursday, 5 Dec 2013 10:35am EST 

Sequans Communications SA:Says the underwriters of its previously announced public offering American Depositary Shares (ADS) have fully exercised their option to purchase up to 1,875,000 additional ADS, representing 1,875,000 ordinary shares.Says including these additional 1,875,000 ADS, Sequans` recent offering totaled 14,375,000 ADS at a price to the public of $1.80 per ADS.Says ADS at a price to the public of $1.80 per ADS. The sale of these additional ADS closed on Dec. 5.Says including the proceeds from the sale of these additional shares, the aggregate net proceeds to the company from the public offering, after deducting underwriting discounts and commissions and estimated offering expenses, are about $23.4 million.Says Needham & Company acted as the sole book-running manager of the offering.Says Craig-Hallum Capital Group acted as co-manager of the offering. 

Company Quote

0.05 +2.66%
11:17am EST