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Sequans Announces Initial Public Offering Price

PARIS — Sequans Communications S.A. (NYSE: SQNS) (the Company), a 4G chipmaker, supplying LTE and WiMAX chips to equipment manufacturers and mobile operators worldwide, today announced the pricing of its initial public offering of American Depositary Shares (ADSs), representing 7,700,000 ordinary shares, at a price to the public of $10.00 per ADS. The ADSs will begin trading on Friday, April 15, 2011 on the New York Stock Exchange under the ticker symbol “SQNS.” The closing of the offering is scheduled to take place on April 20, 2011. Of the ADSs sold in the offering, 6,666,666 ADSs are being offered by the Company and 1,033,334 ADSs are being offered by selling shareholders. In addition, the Company and the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional aggregate of 1,155,000 ADSs to cover over-allotments, if any. The Company will not receive any proceeds from the sale of ADSs by the selling shareholders.

UBS Investment Bank and Jefferies & Company, Inc. are acting as the joint bookrunning managers for the offering.

The offering of these securities will be made only by means of a prospectus, copies of which may be obtained from UBS Investment Bank, via telephone at 1-888-827-7275 or by mail at UBS Investment Bank, Attention: Prospectus Department, 299 Park Avenue, New York, NY 10171; or from Jefferies & Company, Inc., via telephone at 1-877-547-6340, or by electronic mail at Prospectus_Department@Jefferies.com, or by mail at Jefferies & Company, Inc., Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New York, NY 10022.

A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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