90nm OTP Non Volatile Memory for Standard CMOS Logic Process
Renesas Extends Tender Offer for Proposed Acquisition of Sequans
Shareholders to Receive U.S. $0.7575 per Ordinary Share and U.S. $3.03 per ADS in cash
TOKYO, Japan and PARIS, France – November 20, 2023 – Renesas Electronics Corporation (TSE: 6723, “Renesas”) and Sequans Communications S.A. (NYSE: SQNS, “Sequans”) today announced that Renesas has extended the expiration date of its tender offer to acquire all of the outstanding ordinary shares of Sequans for $0.7575 per ordinary share and American Depositary Shares (“ADSs”) of Sequans for $3.03 per ADS (each ADS representing four ordinary shares) in cash, without interest and less any applicable withholding taxes.
The tender offer, which was previously scheduled to expire at one minute after 11:59 P.M., New York City time, on November 21, 2023, has been extended until one minute after 11:59 P.M., New York City time, on December 6, 2023, unless the tender offer is further extended or earlier terminated. The tender offer was extended to allow additional time for the satisfaction of the remaining closing conditions of the tender offer, including, but not limited to, regulatory approvals (other than the previously announced CFIUS approval and NSIA approval) and the valid tender of ordinary shares and ADSs of Sequans representing – together with ordinary shares and ADSs of Sequans beneficially owned by Renesas, if any – at least 90% of the fully diluted ordinary shares of Sequans.
The Bank of New York Mellon, the Tender Agent for the tender offer, has advised Renesas that as of 6 p.m., New York City time, on November 17, 2023, approximately 109,035,233 ordinary shares of Sequans (including ordinary shares represented by ADSs), representing approximately 38.8% of the fully diluted ordinary shares of Sequans, have been validly tendered and not properly withdrawn pursuant to the tender offer. Holders that have previously tendered their shares do not need to re-tender their shares or take any other action in response to this extension.
The tender offer is being made pursuant to the Offer to Purchase, dated September 11, 2023 (as it may be amended or supplemented from time to time, the “Offer to Purchase”), the related Ordinary Share Acceptance Form, ADS Letter of Transmittal and certain other offer documents (together with any amendments or supplements thereto), copies of which are attached to the combined Tender Offer Statement and Rule 13e-3 Transaction Statement filed under cover of Schedule TO filed by Renesas and Renesas Electronics Europe GmbH with the U.S. Securities and Exchange Commission (the “SEC”) on September 11, 2023, as amended.
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723) empowers a safer, smarter and more sustainable future where technology helps make our lives easier. The leading global provider of microcontrollers, Renesas combines our expertise in embedded processing, analog, power and connectivity to deliver complete semiconductor solutions. These Winning Combinations accelerate time to market for automotive, industrial, infrastructure and IoT applications, enabling billions of connected, intelligent devices that enhance the way people work and live. Learn more at renesas.com.
About Sequans Communications
Sequans Communications S.A. (NYSE: SQNS) is a leading developer and supplier of cellular IoT connectivity solutions, providing chips and modules for 5G/4G massive and broadband IoT. For 5G/4G massive IoT applications, Sequans provides a comprehensive product portfolio based on its flagship Monarch LTE-M/NB-IoT and Calliope Cat 1 chip platforms, featuring industry-leading low power consumption, a large set of integrated functionalities, and global deployment capability. For 5G/4G broadband IoT applications, Sequans offers a product portfolio based on its Cassiopeia Cat 4/Cat 6 4G and high-end Taurus 5G chip platforms, optimized for low-cost residential, enterprise, and industrial applications. Founded in 2003, Sequans is based in Paris, France with additional offices in the United States, United Kingdom, Israel, Hong Kong, Singapore, Finland, Taiwan, South Korea, and China. Visit Sequans online at http://www.sequans.com/.
|
Related News
- Renesas Extends Tender Offer for Proposed Acquisition of Sequans
- Renesas Extends Tender Offer and Receives UK NSIA Clearance for Proposed Acquisition of Sequans
- Renesas Extends Tender Offer for Proposed Acquisition of Sequans
- Renesas Extends Tender Offer and Receives CFIUS Clearance for Proposed Acquisition of Sequans
- Renesas Announces Termination of Memorandum of Understanding and Tender Offer for Proposed Acquisition of Sequans
Breaking News
- TSMC September 2024 Revenue Report
- Crypto Quantique teams up with Attopsemi to simplify the implementation of PUF technology in MCUs and SoCs
- Intel, TSMC to detail 2nm processes at IEDM
- SensiML Expands Platform Support to Include the RISC-V Architecture
- MIPI Alliance Announces OEM, Expanded Ecosystem Support for MIPI A-PHY Automotive SerDes Specification
Most Popular
- Deeptech Keysom completes a €4M fundraising and deploys the first “no-code” tool dedicated to the design of tailor-made processors
- Bluetooth® V6.0 Channel Sounding RF Transceiver IP Core in 22nm & 40nm for ultra-low power distance aware Bluetooth connected devices
- Secure-IC unveils its Securyzr™ neo Core Platform at Embedded World North America 2024
- LDRA Announces Extended Support for RISC-V High Assurance Software Quality Tool Suite to Accelerate On-Target Testing of Critical Embedded Applications
- Electronic System Design Industry Posts $4.7 Billion in Revenue in Q2 2024, ESD Alliance Reports
E-mail This Article | Printer-Friendly Page |