ISIN:US8173232070

Sequans Receives Notice of Non-Compliance with NYSE Trading Share Price and Market Capitalization Listing Rules

Retrieved on: 
Thursday, May 9, 2024
Share, Internet of things, American depositary receipt, Calendar, Dietary supplement

Under the NYSE standards, the Company has six months following receipt of the notification to regain compliance with the minimum share price requirement.

Key Points: 
  • Under the NYSE standards, the Company has six months following receipt of the notification to regain compliance with the minimum share price requirement.
  • The Company intends to cure the price deficiency and return to compliance with the NYSE continued listing requirement within the applicable cure period.
  • Sequans is currently evaluating its available options and developing a plan to regain compliance with the minimum global market capitalization requirement.
  • The Company's ADSs will continue to be listed and trade on the NYSE during the Cure Periods, subject to the Company's compliance with other NYSE continued listing standards.

Abeeway Selects Sequans Low Power LTE-M/NB-IoT Cellular IoT Connectivity for Critical Asset Tracking

Retrieved on: 
Tuesday, April 23, 2024
Internet of things, EVP, LoRa, Power, Partnership, NB, ESIM, LTE-M, Livestock, Marketing, GPS, Mobile phone

"In Monarch 2, Sequans gave us all the advanced capabilities required for critical asset tracking and stolen vehicle recovery, and the Sequans team gave us excellent support throughout the entire integration process.

Key Points: 
  • "In Monarch 2, Sequans gave us all the advanced capabilities required for critical asset tracking and stolen vehicle recovery, and the Sequans team gave us excellent support throughout the entire integration process.
  • The Abeeway Compact Tracker is designed for heavy-duty tracking and provides ubiquitous indoor and outdoor geolocation with low power consumption.
  • Its compact and robust form factor can resist harsh outdoor conditions, enabling seamless asset tracking and management in virtually any industrial environment.
  • Monarch 2 enables the Abeeway Compact Tracker to operate seamlessly anywhere with industry-leading low power consumption and integrated eSIM capability for remote provisioning and roaming."

Sequans to Showcase its Cellular IoT Solutions at Embedded World 2024

Retrieved on: 
Tuesday, March 26, 2024
BLE, MicroPython, LTE, Internet of things, ESIM, Taurus, GPS, Voice over LTE, Human, FR1, Calliope, Narrowband IoT, LoRa, Electronics, Data-rate units, Water, LTE-M, Weather, CAT4, NB, SDK, Mouser Electronics, Integrated circuit, GNSS, Mobile phone

Including LTE-M/NB-IoT, Cat 1bis, 5G NR, RedCap, and eRedCap

Key Points: 
  • Paris, France--(Newsfile Corp. - March 26, 2024) - Sequans Communications, S.A. (NYSE: SQNS), leader in 4G/5G cellular IoT connectivity solutions, will be showcasing its portfolio of chips and modules, April 9-11, at Embedded World , the world's largest event for the embedded community.
  • Sequans solutions will also be on display in the stands of several partners, including SG Wireless, DPTechnics, and Microchip.
  • Sequans' extensive experience in cellular IoT is reflected in its comprehensive product portfolio that extends from LTE-M and NB-IoT up to 5G NR.
  • Our distribution partners will also highlight Sequans solutions in their booths at Embedded World.

Sequans Secures 5G eRedCap Semiconductor Development with Financing from the France 2030 Investment Plan

Retrieved on: 
Monday, March 18, 2024
Internet of things, 3GPP

Such financing will be received with an upfront payment followed by three milestone payments over the duration of the project.

Key Points: 
  • Such financing will be received with an upfront payment followed by three milestone payments over the duration of the project.
  • In its proposal, Sequans outlined a plan to create a new generation massive IoT chip supporting 5G NR eRedCap (5G new radio enhanced reduced capability) that meets the requirements of the 3GPP standard defined in Release 18 and beyond.
  • 5G NR eRedCap will comply with the latest 5G NR networks and address massive IoT applications with cost-effective, low-power, and ultra-reliable connectivity required for industrial, utilities, medical, asset tracking, and automotive applications.
  • "We are grateful that our proposal was chosen by France 2030 as it strengthens and secures our massive IoT low-power 5G product portfolio development," said Georges Karam, Sequans CEO.

Sequans Communications Announces Preliminary Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Thursday, March 7, 2024
Renesas Electronics, Electronics, Average cost, ADS, Growth, Operating cost, Cat, Video game

Fourth Quarter 2023 Financial Summary:

Key Points: 
  • Fourth Quarter 2023 Financial Summary:
    Revenue: Revenue was $4.8 million, a decrease of 38.7% compared to the third quarter of 2023 and a decrease of 70.0% compared to the fourth quarter of 2022.
  • Gross margin: Gross margin was 12.2% compared to 85.8% in the third quarter of 2023 and compared to 75.3% in the fourth quarter of 2022, reflecting lower licensing revenues in the fourth quarter of 2023 and a provision for slow-moving inventory of $1.3 million, compared to $75,000 in the third quarter of 2023 and $0.3 million in the fourth quarter of 2022.
  • The fourth quarter of 2023 operating loss reflected $0.8 million in general and administrative expenses from legal fees related to the Renesas tender offer, compared with $2.4 million in the third quarter of 2023 and none in the fourth quarter of 2022.
  • Sequans plans to conduct a teleconference and live webcast to discuss the financial results for the fourth quarter of 2023 today, March 7, 2024 at 8:00 a.m.

Sequans Provides Statement on Renesas Termination of MOU and Announces Conference Call to Review Fourth Quarter and Full Year 2023 Results and Outlook for Full Year 2024

Retrieved on: 
Monday, February 26, 2024
Memorandum, Renesas Electronics, Internet of things, Cryptocurrency

In addition, the Board is pleased to have multiple strategic options to consider and is working with management to pursue each of these opportunities.

Key Points: 
  • In addition, the Board is pleased to have multiple strategic options to consider and is working with management to pursue each of these opportunities.
  • "Many Massive IoT design wins are shipping and product revenues are ramping compared to 2023.
  • Sequans will release its financial results for the fourth quarter and full year 2023 on Thursday, March 7, 2024, during pre-market hours.
  • A live and archived webcast of the call will be available from the Investor Relations section of the Sequans website at www.sequans.com/investors/webcasts-and-presentations .

Renesas Extends Tender Offer for Proposed Acquisition of Sequans

Retrieved on: 
Tuesday, February 20, 2024
Memorandum, Acquisition, ADS, Letter, National Tax Agency, Code, Bank, American depositary receipt, Electronics, BNY Mellon

Shareholders to Receive U.S. $0.7575 per Ordinary Share and U.S. $3.03 per ADS in cash

Key Points: 
  • Renesas is of the opinion that this confirmation constitutes an Adverse Japanese Tax Ruling under the Memorandum of Understanding and, therefore, the contractual condition in the Memorandum of Understanding to the tender offer requiring Renesas' receipt of a confirmation that such reorganization not trigger such tax cannot be fulfilled.
  • On February 12, 2024, the parties closed another financing transaction in which a wholly owned subsidiary of Renesas loaned an additional $9,000,000 to Sequans in exchange for an unsecured subordinated note of Sequans.
  • The tender offer was extended to allow additional time for the satisfaction of the remaining closing conditions of the tender offer, including, but not limited to, the valid tender of ordinary shares and ADSs of Sequans representing - together with ordinary shares and ADSs of Sequans beneficially owned by Renesas, if any - at least 90% of the fully diluted ordinary shares of Sequans.
  • The Bank of New York Mellon, the Tender Agent for the tender offer, has advised Renesas that as of 6 p.m., New York City time, on February 16, 2024, approximately 123,472,744 ordinary shares of Sequans (including ordinary shares represented by ADSs), representing approximately 44.5% of the fully diluted ordinary shares of Sequans, have been validly tendered and not properly withdrawn pursuant to the tender offer.

Renesas Extends Tender Offer for Proposed Acquisition of Sequans

Retrieved on: 
Friday, February 2, 2024
ADS, CFIUS, Electronics, American depositary receipt, Letter, Bank, BNY Mellon

Shareholders to Receive U.S. $0.7575 per Ordinary Share and U.S. $3.03 per ADS in cash

Key Points: 
  • Tokyo, Japan and Paris, France--(Newsfile Corp. - February 2, 2024) - Renesas Electronics Corporation (TSE: 6723) ("Renesas") and Sequans Communications S.A. (NYSE: SQNS) ("Sequans") today announced that Renesas has extended the expiration date of its tender offer to acquire all of the outstanding ordinary shares of Sequans for $0.7575 per ordinary share and American Depositary Shares ("ADSs") of Sequans for $3.03 per ADS (each ADS representing four ordinary shares) in cash, without interest and less any applicable withholding taxes.
  • The tender offer, which was previously scheduled to expire at one minute after 11:59 P.M., New York City time, on February 5, 2024, has been extended until one minute after 11:59 P.M., New York City time, on February 20, 2024, unless the tender offer is further extended or earlier terminated.
  • The tender offer was extended to allow additional time for the satisfaction of the remaining closing conditions of the tender offer, including, but not limited to, regulatory approvals (other than the previously announced CFIUS approval, NSIA approval and Taiwan merger control approval) and the valid tender of ordinary shares and ADSs of Sequans representing - together with ordinary shares and ADSs of Sequans beneficially owned by Renesas, if any - at least 90% of the fully diluted ordinary shares of Sequans.
  • The Bank of New York Mellon, the Tender Agent for the tender offer, has advised Renesas that as of 6 p.m., New York City time, on February 1, 2024, approximately 117,383,156 ordinary shares of Sequans (including ordinary shares represented by ADSs), representing approximately 42.3% of the fully diluted ordinary shares of Sequans, have been validly tendered and not properly withdrawn pursuant to the tender offer.

Renesas Extends Tender Offer for Proposed Acquisition of Sequans

Retrieved on: 
Monday, January 22, 2024
CFIUS, BNY Mellon, Bank, Letter, ADS, Electronics, American depositary receipt

Shareholders to Receive U.S. $0.7575 per Ordinary Share and U.S. $3.03 per ADS in cash

Key Points: 
  • Tokyo, Japan and Paris, France--(Newsfile Corp. - January 22, 2024) - Renesas Electronics Corporation (TSE: 6723) ("Renesas") and Sequans Communications S.A. (NYSE: SQNS) ("Sequans") today announced that Renesas has extended the expiration date of its tender offer to acquire all of the outstanding ordinary shares of Sequans for $0.7575 per ordinary share and American Depositary Shares ("ADSs") of Sequans for $3.03 per ADS (each ADS representing four ordinary shares) in cash, without interest and less any applicable withholding taxes.
  • The tender offer, which was previously scheduled to expire at one minute after 11:59 P.M., New York City time, on January 22, 2024, has been extended until one minute after 11:59 P.M., New York City time, on February 5, 2024, unless the tender offer is further extended or earlier terminated.
  • The tender offer was extended to allow additional time for the satisfaction of the remaining closing conditions of the tender offer, including, but not limited to, regulatory approvals (other than the previously announced CFIUS approval, NSIA approval and Taiwan merger control approval) and the valid tender of ordinary shares and ADSs of Sequans representing - together with ordinary shares and ADSs of Sequans beneficially owned by Renesas, if any - at least 90% of the fully diluted ordinary shares of Sequans.
  • The Bank of New York Mellon, the Tender Agent for the tender offer, has advised Renesas that as of 6 p.m., New York City time, on January 19, 2024, approximately 116,077,972 ordinary shares of Sequans (including ordinary shares represented by ADSs), representing approximately 41.8% of the fully diluted ordinary shares of Sequans, have been validly tendered and not properly withdrawn pursuant to the tender offer.