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Wireless

Sequans secures USD 50 mln in financing from existing shareholder Lynrock Lake

Wednesday 7 April 2021 | 18:16 CET | News
IoT chipmaker Sequans Communications has obtained financing of USD 50 million from investment management firm Lynrock Lake, an existing shareholder of the company. This will enable Sequans to repay existing debt and to use part of the proceeds for other corporate purposes. The USD 50 million financing consists of USD 40 million of convertible debt and a sale of American Depository Shares (ADS), accounting for the remaining USD 10 million.

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Categories: Mobile & Wireless
Companies: Sequans
Countries: World
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