Sequans munications S.A.(SQNS)2023-03-31 10:39Strategic Options and Transactions - The company announced the formation of a special committee to explore strategic options, receiving interest from multiple parties for potential transactions[6]. - The company has engaged an investment bank to assist in evaluating and pursuing strategic alternatives[6]. - The company is currently discussing multiple IP licensing opportunities to strengthen its position for strategic alternatives[6]. - There is no assurance that current discussions will lead to new IP licensing arrangements or strategic transactions[8]. Financial Activities - A private placement of ordinary shares (ADSs) is expected to raise $10-20 million from existing institutional accredited investors[7]. - The price per ADS for the private placement will be determined based on the closing price on April 3, 2023, or the average closing price for the five trading days prior[7]. - The private placement is anticipated to close on or about April 5, 2023[7]. - The company intends to reinforce its balance sheet to negotiate from a position of strength[7]. Market Environment and Risks - The company is in a competitive and rapidly changing environment, with new risks emerging over time[8]. - The forward-looking statements reflect the company's current beliefs and expectations, subject to risks and uncertainties[8].