Orrick Advises Sequans Communications in Underwritten Public Offering of American Depositary Shares

May.13.2020

Orrick has advised Sequans Communications S.A., a leading developer and provider of 5G and 4G chips and modules for IoT devices, in its offering of 4,854,369 American Depositary Shares (“ADSs”), representing 19,417,476 ordinary shares, at a price of $5.15 per ADS. Sequans has also granted the underwriters a 30-day option to acquire an additional 728,155 ADSs to cover overallotments, if any, in connection with the offering. After deducting the underwriting discount and estimated offering expenses payable by the company, Sequans expects to receive net proceeds of approximately $23.1 million. The offering is expected to close on May 14, 2020, subject to customary closing conditions.

Riley FBR, Inc. is acting as the sole book-running manager of the offering, and Roth Capital Partners, LLC is acting as the lead manager. The Orrick team is led by Brett Cooper and Etienne Boursican and includes Lynne Hirata, Alexandre Zuber and Valerie Guillard.