SEQUANS COMMUNICATIONS

Sequans Communications S.A. is a French company incorporated on October 7, 2003. Its principal executive offices are located in Colombes, France. In January 2025, Sequans acquired ACP Advanced Circuit Pursuit AG ("ACP"), a leader in RF semiconductor innovation that has shipped millions of RF transceivers for applications such as 5G small cells, drones, and V2X systems. This acquisition strengthened Sequans' RF technology and product portfolio for various wireless market segments. On September 30, 2024, Qualcomm Technologies, Inc. acquired the majority of Sequans' 4G IoT technologies. Sequans retained full ownership of its 5G intellectual property and the right to sell, support, maintain, and enhance its existing 4G product portfolio, as well as develop new generations of chips and modules using these technologies. This enables Sequans to advance its Monarch (LTE-M/NB-IoT) and Calliope (LTE Cat-1/Cat-1bis) products, alongside 5G RedCap and eRedCap product developments. In June 2025, Sequans raised approximately $384 million through private placements, including $189 million in secured convertible debentures. These funds were used to purchase 3,234 Bitcoin, all pledged as collateral for the debentures. In October 2025, an amendment allowed the repurchase of 50% of the debentures by selling 970 Bitcoin, which also released 647 Bitcoin from collateral. A second amendment in February 2026 permits repurchasing the remaining debentures using Bitcoin sales through June 1, 2026.