<SEC-DOCUMENT>0001193125-23-270812.txt : 20231106
<SEC-HEADER>0001193125-23-270812.hdr.sgml : 20231106
<ACCEPTANCE-DATETIME>20231106062049
ACCESSION NUMBER:		0001193125-23-270812
CONFORMED SUBMISSION TYPE:	SC 14D9/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20231106
DATE AS OF CHANGE:		20231106

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SEQUANS COMMUNICATIONS
		CENTRAL INDEX KEY:			0001383395
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			I0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 14D9/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-86632
		FILM NUMBER:		231378038

	BUSINESS ADDRESS:	
		STREET 1:		15-55 BLVD CHARLES DE GAULLE
		STREET 2:		LES PORTES DE LA DEFENSE
		CITY:			COLOMBES
		STATE:			I0
		ZIP:			92700
		BUSINESS PHONE:		33170721600

	MAIL ADDRESS:	
		STREET 1:		15-55 BLVD CHARLES DE GAULLE
		STREET 2:		LES PORTES DE LA DEFENSE
		CITY:			COLOMBES
		STATE:			I0
		ZIP:			92700

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SEQUANS COMMUNICATIONS
		CENTRAL INDEX KEY:			0001383395
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			I0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 14D9/A

	BUSINESS ADDRESS:	
		STREET 1:		15-55 BLVD CHARLES DE GAULLE
		STREET 2:		LES PORTES DE LA DEFENSE
		CITY:			COLOMBES
		STATE:			I0
		ZIP:			92700
		BUSINESS PHONE:		33170721600

	MAIL ADDRESS:	
		STREET 1:		15-55 BLVD CHARLES DE GAULLE
		STREET 2:		LES PORTES DE LA DEFENSE
		CITY:			COLOMBES
		STATE:			I0
		ZIP:			92700
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 14D9/A
<SEQUENCE>1
<FILENAME>d451698dsc14d9a.htm
<DESCRIPTION>SC 14D9/A
<TEXT>
<HTML><HEAD>
<TITLE>SC 14D9/A</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE
14D-9 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>(Rule&nbsp;14d-101) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>SOLICITATION/RECOMMENDATION STATEMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>UNDER SECTION 14(d)(4) OF THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>(Amendment No.&nbsp;4) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>SEQUANS
COMMUNICATIONS S.A. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Subject Company) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>SEQUANS
COMMUNICATIONS S.A. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Person Filing Statement) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>American Depositary Shares, each representing four (4)&nbsp;ordinary shares, nominal value &#128;0.01&nbsp;per share </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Ordinary shares, nominal value &#128;0.01&nbsp;per share </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Title of Class of Securities) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>817323207* </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(CUSIP Number
of Class of Securities) </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Dr.&nbsp;Georges Karam </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Chairman and Chief Executive Officer </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Sequans Communications S.A. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>15-55 boulevard Charles de Gaulle </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>92700 Colombes, France </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Telephone: +33 1 70 72 16 00 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Name, address and telephone number of person authorized to receive notices and communications </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>on behalf of the person(s) filing statement) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>With copies to: </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Brett Cooper, Esq. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Richard Vernon Smith, Esq. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Orrick, Herrington&nbsp;&amp; Sutcliffe LLP </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>The Orrick Building </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>405
Howard Street </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>San Francisco, CA 94105 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(415) 773-5700 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Check the box if the filing relates solely to preliminary communications made before the commencement of a
tender offer. </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">This CUSIP number is assigned to the Subject Company&#146;s American Depositary Shares, each representing four
(4)&nbsp;Ordinary Shares. </P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Amendment No.&nbsp;4 (this &#147;<B>Amendment</B>&#148;) amends and supplements the
Solicitation/Recommendation Statement on Schedule 14D-9 filed by Sequans Communications S.A., a <I>soci&eacute;t&eacute; anonyme</I> organized under the laws of France (&#147;<B>Sequans</B>&#148; or the &#147;<B>Company</B>&#148;), with the U.S.
Securities and Exchange Commission (the &#147;<B>SEC</B>&#148;) on September&nbsp;11, 2023 (as amended and supplemented on October&nbsp;4, 2023,&nbsp;October&nbsp;5, 2023,&nbsp;October&nbsp;20, 2023 and November&nbsp;6, 2023 and as may be further
amended or supplemented from time to time, the &#147;<B>Schedule 14D-9</B>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Schedule 14D-9 relates to the tender offer by
Renesas Electronics Europe GmbH, incorporated as a limited liability company under the laws of Germany (<I>Gesellschaft mit beschr&auml;nkter Haftung&#151;GmbH</I>) (&#147;<B>Purchaser</B>&#148;), a direct wholly owned subsidiary of Renesas
Electronics Corporation, a Japanese corporation (&#147;<B>Parent</B>&#148; or &#147;<B>Renesas</B>&#148;), to acquire all of the outstanding ordinary shares, nominal value &#128;0.01&nbsp;per share, of the Company (each, an &#147;<B>Ordinary
Share</B>&#148; and, collectively, the &#147;<B>Ordinary Shares</B>&#148;), including American Depositary Shares representing Ordinary Shares (each American Depositary Share represents four Ordinary Shares) (each, an &#147;<B>ADS</B>&#148; and,
collectively, the &#147;<B>ADSs</B>&#148;), and Ordinary Shares issuable upon the exercise, conversion or exchange of any outstanding options, warrants, convertible securities, restricted share awards or rights to purchase, subscribe for, or be
allocated Ordinary Shares (collectively, the &#147;<B>Company Shares</B>&#148;), for U.S. $0.7575 per Ordinary Share and U.S. $3.03 per ADS (each such amount, the &#147;<B>Offer Price</B>&#148;) in each case, payable net to the seller in cash,
without interest, less any withholding taxes that may be applicable, upon the terms and subject to the conditions set forth in the Offer to Purchase dated September&nbsp;11, 2023 (together with amendments or supplements thereto, the &#147;<B>Offer
to Purchase</B>&#148;) and in the accompanying Ordinary Share Acceptance Form (together with amendments or supplements thereto, the &#147;<B>Ordinary Share Acceptance Form</B>&#148;) and American Depositary Share Letter of Transmittal (together with
amendments or supplements thereto, the &#147;<B>ADS Letter of Transmittal</B>&#148; and, together with the Offer to Purchase, the Ordinary Share Acceptance Form and other related materials, as each may be amended or supplemented from time to time,
the &#147;<B>Offer</B>&#148;). The Offer is described in a combined Tender Offer Statement and Rule 13e-3 Transaction Statement filed under cover of Schedule TO with the SEC on September&nbsp;11, 2023, by Parent and Purchaser (as amended and
supplemented on October&nbsp;4, 2023, October&nbsp;5, 2023,&nbsp;October&nbsp;20, 2023 and November&nbsp;6, 2023 and as may be further amended or supplemented from time to time, the &#147;<B>Schedule TO</B>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Amendment is being filed to reflect certain updates to the Schedule 14D-9 as set forth below. Underlined text shows text being added to a
referenced disclosure in the Schedule 14D-9 and a line through text shows text being deleted from a referenced disclosure in the Schedule 14D-9. Except as otherwise set forth below, the information in the Schedule 14D-9 remains unchanged and is
incorporated herein by reference as relevant to the items in this Amendment. All page references in the information below are to pages in the Schedule 14D-9, and all capitalized terms used below, unless otherwise defined, shall have the meanings set
forth in the Schedule 14D-9. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&#8201;2. Identity and Background of Filing Person. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Item&#8201;2. &#147;<I>Identity and Background of Filing Person</I>&#148; of the Schedule 14D-9 is hereby amended and supplemented as follows: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">The third paragraph on pages 2-3 under the heading &#147;Item 2. <I>Identity and Background of Filing
Person&#151;(b) Tender Offer&#151;The Offer</I>&#148; is revised to read as follows: </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Offer, which was previously
scheduled to expire at one minute after 11:59 p.m., New York City time, on <STRIKE>October&nbsp;23</STRIKE><U>November 6</U>, 2023, is being extended until one minute after 11:59 p.m., New York City time, on November <STRIKE>6</STRIKE><U>21</U>,
2023 (such time or such subsequent time to which the expiration of the Offer is extended in accordance with the Memorandum of Understanding, the &#147;<B>Expiration Date</B>&#148;). On <STRIKE>October&nbsp;20</STRIKE><U>November 6</U>, 2023, Parent
and the Company issued a joint press release announcing the extension of the Offer. The full text of the press release is filed as Exhibit (a)(5)<STRIKE>(M)</STRIKE><U>(N)</U> to this Schedule 14D-9 and is incorporated herein by reference. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&#8201;3. Past Contacts, Transactions, Negotiations and Agreements </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">The last sentence of footnote 1 to the table under the heading &#147;Item 3. <I>&#147;Past Contacts,
Transactions, Negotiations and Agreements</I>&#148;&#151;<I>(b) Arrangements with Directors and Executive Officers of Sequans &#151; Interests of Certain Persons&#151;Ordinary Shares, ADSs and Other Company Securities Held by Senior Management and
Directors of the Company,</I>&#148;<I></I> which begins on page 8, is revised to read as follows: </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">See &#147;&#151;<I>Affiliated Ownership <U>and Financing Arrangement</U></I>&#148; below <U>for additional
information regarding the beneficial ownership of BRAM and Mr.&nbsp;Cummins, including transactions in ADSs following the measurement date of the table above</U>. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">&#147;Item 3. <I>&#147;Past Contacts, Transactions, Negotiations and Agreements</I>&#148;&#151;<I>(b)
Arrangements with Directors and Executive Officers of Sequans&#151;Affiliated Ownership and Financing Arrangement,</I>&#148;<I></I> which begins on page 13, is revised to read as follows: </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Based on a <STRIKE>Form 13F</STRIKE><U>Schedule 13D/A</U> filed with the SEC on <STRIKE>August&nbsp;14</STRIKE><U>October 27</U>, 2023, as of
<STRIKE>June&nbsp;30</STRIKE><U>October 27</U>, 2023, B. Riley Asset Management LLC (&#147;BRAM&#148;), in its capacity as investment manager for certain funds and accounts (the &#147;BRAM Funds and Accounts&#148;), beneficially owned
<STRIKE>36,533,200</STRIKE><U>45,013,764</U> Ordinary Shares, represented by <STRIKE>9,133,300</STRIKE><U>11,253,411</U> ADSs, which represents approximately <STRIKE>15.6</STRIKE><U>18.5</U>% of the outstanding Ordinary Shares as of
<STRIKE>September&nbsp;6</STRIKE><U>October 27</U>, 2023<U> (based on 243,239,926 ordinary shares outstanding as of September&nbsp;30, 2023)</U>. Mr.&nbsp;Wesley Cummins, a member of the Board, is the president of BRAM and shares voting and
dispositive rights over the ADSs beneficially owned by BRAM. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Based on a Schedule 13D filed with the SEC on March&nbsp;24, 2022, as
amended on September&nbsp;6, 2022, <STRIKE>and</STRIKE> December&nbsp;5, 2022<U> and October&nbsp;27, 2023</U> (as amended, and as it may be further amended, restated or supplemented from time to time, the &#147;BRAM Schedule 13D&#148;), certain of
the BRAM Funds and Accounts have, from time to time, acquired ADSs in offerings conducted by Sequans, including the purchase of <U>(i)</U>&nbsp;an aggregate of 2,833,333 ADSs (representing 11,333,332 Ordinary Shares) at the public offering price of
U.S. $3.00 per ADS in Sequans&#146; underwritten public offering that closed on March&nbsp;15, 2022<STRIKE>,. The BRAM Schedule 13D also discloses that certain of the BRAM Funds and Accounts purchased</STRIKE><U> (ii)</U>&nbsp;an aggregate of
100,000 ADSs (representing by 400,000 Ordinary Shares) during the 60 days prior to the September&nbsp;6, 2022<STRIKE>,</STRIKE> amendment in open market transactions through brokers at purchase prices ranging from U.S. $3.89 to U.S. $4.15 per ADS,
including commissions, and a weighted-average purchase price of approximately U.S. $4.025 per ADS, <STRIKE>and </STRIKE><U>(iii)</U>&nbsp;an aggregate of 355,000 ADSs (representing 1,420,000 Ordinary Shares) during the 60 days prior to the
December&nbsp;5,&nbsp;2022, amendment in open market transactions through brokers at purchase prices ranging from U.S. $3.38 to U.S. $3.80 per ADS, including commissions, and a weighted-average purchase price of approximately U.S. $3.71 per
ADS<U>,</U><STRIKE>. In addition, on April&nbsp;13, 2023, certain BRAM Funds and Accounts purchased</STRIKE><U> (iv)</U>&nbsp;an aggregate of 3,930,663 ADSs (representing 15,722,652 Ordinary Shares) at a purchase price of U.S. $2.06 per ADS in a
private placement pursuant to a securities purchase agreement dated April&nbsp;3, 2023, by and between Sequans and the purchasers named therein<U>, and (v)&nbsp;an aggregate of 2,120,141 ADSs at a price of $2.83 per ADS in a private placement
pursuant to a securities purchase agreement dated September&nbsp;26, 2023, by and between Sequans and 272 Capital, which closed on October&nbsp;2, 2023</U>. In connection with <STRIKE>the closing</STRIKE> of the private placements<U> that closed on
April&nbsp;3, 2023, and September&nbsp;26, 2023</U>, Sequans and the purchasers entered into registration rights agreements dated April&nbsp;12, 2023, and October&nbsp;2, 2023, pursuant to which Sequans agreed to register the resale of the Ordinary
Shares represented by the ADSs acquired by the purchasers pursuant to the respective securities purchase agreement on a registration statement to be filed with the SEC within 90 days following the date of the registration rights agreement. The
registration rights agreement contains customary indemnification provisions and terminates upon the earlier of (i)&nbsp;the time when there are no registerable securities outstanding, (ii)&nbsp;the time when all of the registerable securities are
free transferable under Rule 144 of the Securities Act and do not bear a restrictive legend relating to the Securities Act or the securities laws of any other applicable jurisdiction or a restricted CUSIP or (iii)&nbsp;the mutual written agreement
of the respective purchaser and Sequans. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><STRIKE>On September&nbsp;26, 2023, the Company entered into a securities purchase agreement
with 272 Capital (the &#147;272 Purchase Agreement&#148;) to issue an aggregate of 2,120,141 ADSs at a price of $2.83 per ADS for a total capital increase of $5,999,999. The pricing, which reflects the New York Stock Exchange minimum price rule for
private placements with insiders or greater than 5% shareholders, was equal to the closing price on September&nbsp;25, 2023. The private placement closed on October&nbsp;2, 2023. </STRIKE>The proceeds of the private placement <U>which closed on
October&nbsp;2, 2023 </U>will be used to partially fund operations. As a result of <STRIKE>the</STRIKE><U> this </U>private placement, 272 Capital beneficially owned <STRIKE>16,483,353</STRIKE><U>5,710,944</U> ADSs (representing
<STRIKE>65,933,412</STRIKE><U>22,843,776</U> Ordinary Shares), all of which ADSs, including the newly issued ADSs in the private placement, are subject to 272 Capital&#146;s Tender and Support Agreement described above. The foregoing summary of the
272 Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the 272 Purchase Agreement, a copy of which is filed as Exhibit (e)(62) to this Schedule 14D-9 and incorporated by reference herein. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&#8201;8. Additional Exhibits </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I></I>Item&#8201;8. &#147;<I>Additional Information&#148; of the Schedule 14D-9 is hereby amended and supplemented as follows: </I></P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">The following sentence is added to the end of the paragraph under the heading &#147;<I>United Kingdom</I>&#148;:
</P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>On October&nbsp;26, 2023, Sequans received notification that the Secretary of State in the Cabinet Office has determined not to take
any further action in relation to the transactions contemplated by the Memorandum of Understanding under the National Security and Investment Act 2021. </U></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9. Exhibits </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Item&#8201;9.
&#147;<I>Exhibits</I>&#148; of the Schedule 14D-9 is hereby amended and supplemented by adding the following exhibit thereto: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" NOWRAP>(a)(5)(N)</TD>
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<TD VALIGN="top">Joint press release issued by Renesas Electronics Corporation and Sequans Communications S.A. on November&nbsp;6, 2023 (incorporated by reference to Exhibit (a)(5)(F) to Amendment No. 4 to the Schedule TO/A filed by Renesas
Electronics Corporation with the SEC on November 6, 2023).</TD></TR>
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<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">After due 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. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3"><B>SEQUANS COMMUNICATIONS S.A.</B></TD></TR>
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<TD VALIGN="top">Dated: November&nbsp;6, 2023</TD>
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<TD VALIGN="top">By:</TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Georges Karam</P></TD></TR>
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<TD VALIGN="top">Name: Dr. Georges Karam</TD></TR>
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<TD VALIGN="top">Title: &#8199;Chief Executive Officer and Chairman</TD></TR>
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