Sequans Receives Notice of Non-Compliance with NYSE Market Capitalization Listing Rules

Sequans Communications S.A. (NYSE: SQNS) received a notice from the New York Stock Exchange (NYSE) regarding non-compliance with market capitalization listing rules. The Company was notified that its average global market capitalization over a 30-day period was below $50,000,000, and its stockholders' equity was also below $50,000,000. This does not result in immediate delisting. Sequans is developing a plan to regain compliance within nine months, outlining strategic actions already taken, including exiting its Bitcoin treasury, strengthening its financial foundation, and focusing on its semiconductor growth strategy. The Company believes these initiatives, combined with operational momentum in its IoT business, provide a solid foundation to meet the NYSE's continued listing standards.

Sequans Communications S.A. (NYSE: SQNS) is a fabless semiconductor company specializing in 4G/5G cellular technology for IoT and RF transceiver solutions for software-defined applications. The company designs and develops technologies for AI-connected applications such as secured payment, smart mobility, smart cities, industrial, e-health, and smart homes, as well as space and defense deployments. Sequans offers 4G/5G solutions including LTE-M/NB-IoT, 4G LTE Cat 1bis, and 5G NR RedCap and eRedCap platforms, and RF transceiver solutions. Founded in 2003, Sequans is headquartered in France with global operations.