Sequans Communications S (SQNS) has released an update.
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Sequans Communications S.A., a prominent 5G/4G IoT solutions provider, is facing non-compliance with NYSE’s trading share price and market capitalization rules, with share prices below $1 and market cap under $50 million. The company plans to submit a business plan for regaining compliance within 18 months for market cap issues and has six months to fix the share price deficiency. During the cure periods, Sequans’ ADSs will remain listed on the NYSE as they work towards meeting the listing standards.
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