Courtesy of Benzinga.
Sequans Communications (NYSE: SQNS) today announced the pricing of
an underwritten public offering of American Depositary Shares (ADSs),
representing 12,500,000 ordinary shares, at a price of $1.80 per ADS.
The company has also granted to the underwriters a 30-day option to
acquire an additional 1,875,000 ADSs to cover overallotments, if any, 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 $20.4 million, assuming no
exercise of the overallotment option. The offering is expected to close
on November 26, 2013, subject to customary closing conditions.
Needham & Company is acting as the sole book-running manager of the
offering. Craig-Hallum
