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Rhea-AI Summary
Renesas Electronics Corporation terminates MOU with Sequans Communications S.A. regarding a tender offer to purchase all outstanding shares at $0.7575 per share.
Rhea-AI Impact
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End-of-Day
-64.84%
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Rhea-AI Summary
Renesas and Sequans announced an extension of a tender offer for Sequans shares at $0.7575 per ordinary share and $3.03 per ADS in cash. Renesas received regulatory approval for the acquisition in France but faces a tax issue in Japan. Sequans received a $9 million loan from Renesas. The tender offer deadline was extended to March 4, 2024, to meet closing conditions.
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Rhea-AI Sentiment
End-of-Day
-13.15%
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Rhea-AI Summary
Renesas Electronics Corporation and Sequans Communications S.A. have extended the expiration date of the tender offer to acquire all outstanding ordinary shares of Sequans for $0.7575 per ordinary share and American Depositary Shares (ADSs) of Sequans for $3.03 per ADS in cash. The offer has been extended until February 20, 2024, to allow for additional time to satisfy remaining closing conditions, including regulatory approvals and the valid tender of shares representing at least 90% of the fully diluted ordinary shares of Sequans. As of February 1, 2024, approximately 42.3% of the fully diluted ordinary shares of Sequans have been validly tendered and not properly withdrawn pursuant to the tender offer.
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Rhea-AI Sentiment
End-of-Day
-0.68%
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Rhea-AI Summary
Renesas Electronics Corporation has extended the expiration date of its tender offer to acquire all outstanding ordinary shares of Sequans Communications S.A. for $0.7575 per ordinary share and $3.03 per ADS in cash. The offer has been extended until February 5, 2024, to allow additional time for the satisfaction of remaining closing conditions, including regulatory approvals and the valid tender of shares representing at least 90% of the fully diluted ordinary shares of Sequans. As of January 19, 2024, approximately 41.8% of the fully diluted ordinary shares of Sequans have been validly tendered and not properly withdrawn.
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End-of-Day
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Rhea-AI Summary
Renesas Electronics Corporation (TSE: 6723) and Sequans Communications S.A. (NYSE: SQNS) announced an extension of the expiration date of the tender offer to acquire all outstanding ordinary shares of Sequans for $0.7575 per ordinary share and American Depositary Shares (ADSs) of Sequans for $3.03 per ADS in cash. The offer has been extended until January 22, 2024, to allow additional time for the satisfaction of the remaining closing conditions, including regulatory approvals and the valid tender of shares representing at least 90% of the fully diluted ordinary shares of Sequans.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.71%
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Rhea-AI Summary
Renesas Electronics Corporation (TSE: 6723) and Sequans Communications S.A. (NYSE: SQNS) have extended the expiration date of the tender offer to acquire all outstanding ordinary shares of Sequans for $0.7575 per ordinary share and American Depositary Shares (ADSs) for $3.03 per ADS in cash, without interest. The tender offer has been extended until January 5, 2024, to allow additional time for the satisfaction of the remaining closing conditions, including regulatory approvals and the valid tender of at least 90% of the fully diluted ordinary shares of Sequans.
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End-of-Day
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Rhea-AI Summary
Renesas Electronics Corporation (TSE: 6723) and Sequans Communications S.A. (NYSE: SQNS) have extended the expiration date of the tender offer to acquire all outstanding ordinary shares of Sequans for $0.7575 per ordinary share and American Depositary Shares (ADSs) of Sequans for $3.03 per ADS in cash. The Taiwan Fair Trade Commission has given regulatory clearance to the proposed acquisition. As of December 4, 2023, approximately 38.8% of the fully diluted ordinary shares of Sequans have been validly tendered and not withdrawn.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.46%
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Rhea-AI Summary
Renesas Electronics Corporation (TSE: 6723) and Sequans Communications S.A. (NYSE: SQNS) have extended the expiration date of the tender offer to acquire all outstanding ordinary shares of Sequans for $0.7575 per ordinary share and American Depositary Shares (ADSs) of Sequans for $3.03 per ADS in cash. The offer has been extended to December 6, 2023, allowing additional time for the satisfaction of closing conditions, including regulatory approvals and the valid tender of at least 90% of the fully diluted ordinary shares of Sequans.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.35%
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News
Rhea-AI Summary
Renesas Electronics Corporation has extended the expiration date of its tender offer to acquire all outstanding ordinary shares of Sequans Communications. Shareholders will receive $0.7575 per ordinary share and $3.03 per ADS in cash. The tender offer has been extended until November 21, 2023, to allow for the satisfaction of remaining closing conditions.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.75%
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Rhea-AI Summary
Sequans Communications S.A. announced financial results for Q3 2023. Revenue was $7.8 million, a decrease of 15.0% compared to Q2 2023 and a decrease of 52.9% compared to Q3 2022. Gross margin was 85.8%. Operating loss was $7.8 million. Net loss was $9.6 million. Non-IFRS net loss was $6.8 million. Cash and cash equivalents totaled $6.7 million.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.06%
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Sequans Communications S.A.
NYSE:SQNS
SQNS Rankings
SQNS Stock Data
30.82M
110.34M
5.73%
68.13%
1.81%
Semiconductor and Related Device Manufacturing
Manufacturing
United States of America
Colombes
About SQNS
sequans communications is a 4g chipmaker, supplying wimax and lte chips to original equipment manufacturers and original design manufacturers worldwide. founded in 2003 to address the wimax opportunity where it is now a global leader, sequans expanded in early 2009 to address the lte market. sequans is today a leader in 4g smartphones and powers top wimax smartphones now deployed on the networks of sprint, kddi, and korea telecom. sequans became an early leader in lte when it was asked by china mobile to provide technology for its launch of the world's first td-lte demonstration network in 2010. in 2011, sequans' lte technology was approved by china's miit and is now being used in the large scale trial of china mobile in shenzhen with huawei. sequans has successfully conducted lte interoperability testing with virtually all leading enodeb vendors and its lte technology is operating in numerous networks on five continents. sequans is based in paris, with additional offices throughout th