Daniel Asher group reports 11.54% Sequans (SQNS) stake in 13G/A filing

Rhea-AI Filing Summary

Sequans Communications received an amended Schedule 13G showing that investor Daniel Asher, together with affiliated entities, reports beneficial ownership of 190,125,500 ordinary shares, representing 11.54% of the outstanding ordinary shares. The filing breaks this down among entities, including DBA Trading LLC with 138,781,100 shares (8.42% of the class) and AFOB FIP MS, LLC, through its managing member AFO Blackberry, LLC, with 51,344,400 shares (3.12% of the class).

The filing states that Asher is deemed to control and share voting and dispositive power over the shares held by DBA Trading LLC and AFO Blackberry. It also certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Sequans Communications.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

SEQUANS COMMUNICATIONS

(Name of Issuer)

Ordinary Shares, nominal value Euro $0.01 per share

(Title of Class of Securities)

817323306

(CUSIP Number)

01/16/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 817323306

1

Names of Reporting Persons

DANIEL ASHER

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 190,125,500.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 190,125,500.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

190,125,500.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.54 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 817323306

1

Names of Reporting Persons

AFO Blackberry, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 51,344,400.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 51,344,400.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

51,344,400.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.12 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 817323306

1

Names of Reporting Persons

AFOB FIP MS, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 51,344,400.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 51,344,400.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

51,344,400.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.12 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 817323306

1

Names of Reporting Persons

DBA TRADING LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 138,781,100.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 138,781,100.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

138,781,100.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.42 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: SEQUANS COMMUNICATIONS
(b)	Address of issuer's principal executive offices: 15-55 Boulevard Charles de Gaulle, 92700, Colom bes France
Item 2.
(a)	Name of person filing: Daniel Asher, DBA Trading, LLC. AFOB FIP MS, LLC
(b)	Address or principal business office or, if none, residence: IOI I Lake Street Suite 311 Oak Park, IL 60301
(c)	Citizenship: USA
(d)	Title of class of securities: Ordinary Shares, nominal value Euro $0.01 per share
(e)	CUSIP No.: 817323306
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See Row 9 of cover page for each reporting person.
(b)	Percent of class: See Row 11 of cover page for each reporting person
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Row 5 of cover page for each reporting Person.
	(ii) Shared power to vote or to direct the vote: See Row 6 of cover page for each reporting Person.
	(iii) Sole power to dispose or to direct the disposition of: See Row 7 of cover page for each reporting Person.
	(iv) Shared power to dispose or to direct the disposition of: See Row 8 of cover page for each reporting Person. Daniel Asher is the beneficial owner of, DBA Trading, LLC, and is deemed to control and share voting and dispositive power over the shares held by them. AFO Blackberry, LLC is the managing member of AFOB FIP MS, LLC and Daniel Asher is deemed to control share voting and dispositive power over the shares held by AFO Blackberry.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

DANIEL ASHER

Signature:	Daniel Asher
Name/Title:	Daniel Asher
Date:	01/07/2026

AFO Blackberry, LLC

Signature:	Fred Goldman
Name/Title:	Fred Goldman, Treasurer
Date:	01/07/2026

AFOB FIP MS, LLC

Signature:	Fred Goldman
Name/Title:	Fred Goldman, Treasurer of AFO Blackberry, LLC Managing Member of AFO FIP MS LLC
Date:	01/07/2026

DBA TRADING LLC

Signature:	Fred Goldman
Name/Title:	Fred Goldman, Member
Date:	01/07/2026

Exhibit Information

99.1 Joint Filing Agreement of the Reporting Persons. 99.2 Transactions of the Reporting Persons

FAQ

What percentage of Sequans Communications (SQNS) does Daniel Asher beneficially own?

The filing reports that Daniel Asher beneficially owns 190,125,500 ordinary shares of Sequans Communications, representing 11.54% of the outstanding ordinary shares.

How many Sequans (SQNS) shares are held by DBA Trading LLC?

DBA Trading LLC reports beneficial ownership of 138,781,100 ordinary shares of Sequans Communications, which represents 8.42% of the class.

What is the ownership position of AFOB FIP MS, LLC in Sequans (SQNS)?

AFOB FIP MS, LLC reports beneficial ownership of 51,344,400 ordinary shares of Sequans Communications, equal to 3.12% of the outstanding ordinary shares.

Does Daniel Asher have voting and dispositive power over the Sequans (SQNS) shares?

The filing states that Daniel Asher is deemed to control and share voting and dispositive power over the shares held by DBA Trading LLC and by AFO Blackberry, LLC, the managing member of AFOB FIP MS, LLC.

Are the Sequans (SQNS) shares held to influence control of the company?

The certification states that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Sequans Communications.

What type of filing did Sequans (SQNS) receive regarding these holdings?

This disclosure is an Amendment No. 1 to Schedule 13G, reporting beneficial ownership of Sequans Communications ordinary shares by Daniel Asher and affiliated entities.