Sequans Communications S (SQNS) has released an update.
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Sequans Communications S.A., a French corporation, has issued an unsecured promissory note promising to pay 272 Capital Master Fund, Ltd $5 million, with 12% annual interest, by April 22, 2025, or earlier under certain conditions. The note, not registered under the Securities Act of 1933, emphasizes investment purposes and stipulates that any transfer must adhere to securities laws. Payments will be made in U.S. dollars via wire transfer, and the terms include provisions for control changes, default events, and prepayments.
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