Sequans Communications S A (SQNS) has released an update.
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Sequans Communications S.A., a leader in IoT semiconductors, is adjusting its American Depositary Share (ADS) structure in a move akin to a 1-for-2.5 reverse stock split, aimed at increasing the market price per ADS to meet NYSE compliance and attract a broader investor base. The change, effective October 9, 2024, will not affect the ordinary shares but is expected to multiply the ADS price to help regain NYSE’s minimum price listing requirement. Sequans is also progressing with its asset sale to Qualcomm, following approval from the French government, to further position the company for growth.
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