Sequans Announces $50 Million Financing To Strengthen Balance Sheet
04/07/21, 10:05 AM
Location
france
Money raised
$50 million
Industry
wireless
internet of things
hardware
Sequans Communications S.A. (NYSE: SQNS), leading developer and provider of 5G and 4G solutions for broadband, critical, and massive IoT, announced today the signing of a $50 million private financing with Lynrock Lake Master Fund LP, a fund managed by Lynrock Lake LP (“Lynrock Lake”), an investment management firm with approximately $1.2 billion of assets under management. The financing consists of $10 million of American Depository Shares (ADS) and $40 million principal amount of convertible debt. The financing is scheduled to close April 9, 2021.
Company Info
Location
15-55 blvd charles de gaulle
france
Additional Info
Sequans Communications S.A. (NYSE: SQNS) is a leading developer and supplier of cellular IoT connectivity solutions, providing chips and modules for 5G/4G massive and broadband IoT. For 5G/4G massive IoT applications, Sequans provides a comprehensive product portfolio based on its flagship Monarch LTE-M/NB-IoT and Calliope Cat 1 chip platforms, featuring industry-leading low power consumption, a large set of integrated functionalities, and global deployment capability. For 5G/4G broadband IoT applications, Sequans offers a product portfolio based on its Cassiopeia Cat 4/Cat 6 4G and high-end Taurus 5G chip platforms, optimized for low-cost residential, enterprise, and industrial applications. Founded in 2003, Sequans is based in Paris, France with additional offices in the United States, United Kingdom, Israel, Hong Kong, Singapore, Finland, Taiwan, South Korea, and China. Visit Sequans online at http://www.sequans.com/, and follow us on Facebook, Twitter and LinkedIn.