Sequans Announces Pricing of IPO

Sequans Communications S.A., a 4G chipmaker supplying LTE and WiMAX chips to equipment manufacturers and mobile operators worldwide, has announced the pricing of its initial public offering of American Depositary Shares (ADSs), representing 7,700,000 ordinary shares, to be $10.00 per ADS.

The ADSs began trading Friday, April 15, 2011 on the New York Stock Exchange under the ticker symbol "SQNS." The closing of the offering is scheduled to take place on April 20, 2011. Of the ADSs sold in the offering, 6,666,666 ADSs are being offered by the Company and 1,033,334 ADSs are being offered by selling shareholders. In addition, the Company and the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional aggregate of 1,155,000 ADSs to cover over-allotments, if any. The company will not receive any proceeds from the sale of ADSs by the selling shareholders.

Sequans Communications