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Sequans raises USD 7 mln from notes offering

Friday 29 April 2016 | 12:47 CET | News
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Chipmaker Sequans Communications said it has raised net proceeds of USD 7 million from the sale of convertible notes to two institutional investors, including a current shareholder that purchased the convertible note issued in April 2015, in a private placement transaction. The company intends to use the proceeds for general corporate purposes. The notes will mature in April 2019 and bear interest at a rate of 7 percent per year.

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Categories: Mobile & Wireless
Companies: Sequans
Countries: World
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