[6-K] Sequans Communications S.A. American Current Report (Foreign Issuer)

Filing Impact

(Low)

Filing Sentiment

(Neutral)

Form Type

6-K

Rhea-AI Filing Summary

JPMorgan Chase Financial Company LLC is marketing three-year Capped Barrier Notes linked to the Solactive US Mag 7 Index PR.

Key dates: Pricing on 28 Jul 2025; single Observation Date on 28 Jul 2028; Maturity on 2 Aug 2028.
Denomination: $1,000 per note; CUSIP 48136FLH3.
Return profile: 鈥� If the Index is above its Initial Value at maturity, investors receive $1,000 plus index appreciation, capped by a Maximum Return 鈮� 50%. 鈥� If the Index ends flat or up to 30 % down (鈮� 70 % of Initial Value), principal is returned. 鈥� Below the 70 % barrier, investors participate 1-for-1 in the negative Index return, exposing them to a loss of more than 30 % and up to 100 % of principal.
Estimated value: 鈮� $930 per $1,000 note, implying an initial issuer/structuring premium of 鈮� 7 %.
Credit exposure: Payments rely on the senior unsecured obligations of JPMorgan Chase Financial Company LLC and its guarantor JPMorgan Chase & Co..
Sector concentration: The underlying index is heavily weighted toward large U.S. technology names ("Magnificent 7"), established 21 Mar 2024; components are fixed for the note鈥檚 life.
Selected risks: unlimited downside below barrier, capped upside, issuer/guarantor credit risk, limited liquidity (no market-making obligation), potential conflicts of interest in pricing/hedging, and uncertain tax treatment.

These securities suit investors seeking enhanced equity participation with conditional principal protection, who are comfortable with single-observation barrier risk, sector concentration, and JPMorgan credit exposure. They are not designed for income-oriented or fully risk-averse investors.

JPMorgan Chase Financial Company LLC电� Solactive US Mag 7 Index PR鞐� 鞐半彊霅� 3雲� 毵岅赴旌‰摐氚半Μ鞏� 雲疙姼毳� 毵堨紑韺呿晿瓿� 鞛堨姷雼堧嫟.

欤检殧鞚检爼: 臧€瓴� 毂呾爼鞚� 2025雲� 7鞗� 28鞚�; 雼澕甏€彀办澕 2028雲� 7鞗� 28鞚�; 毵岅赴鞚� 2028雲� 8鞗� 2鞚�.
鞎‰┐臧赌: 雲疙姼雼� $1,000; CUSIP 48136FLH3.
靾橃澋甑“: 鈥� 毵岅赴鞁� 歆€靾橁皜齑堦赴臧€旃� 鞚挫儊鞚措┐ 韴瀽鞛惖鐢 $1,000瓿� 歆€靾� 靸侅姽攵勳潉氚涭溂氅�, 斓滊寑靾橃澋毳� 鈮� 50%搿� 鞝滍暅霅╇媹雼�. 鈥� 歆€靾橁皜齑堦赴臧€旃橃潣 70% 鞚挫儊(斓滊寑 30% 頃橂澖)鞐愳劀毵堦皭頃橂┐ 鞗愱笀鞚� 氚橅櫂霅╇媹雼�. 鈥� 70% 氙鸽鞙茧 頃橂澖頃� 瓴届毎韴瀽鞛惖鐢歆€靾� 頃橂澖攵勳潉 1雽€1搿� 攵€雼错晿鞐� 斓滊寑 100% 鞗愱笀靻愳嫟鞙勴棙鞚� 鞛堨姷雼堧嫟.
鞓堨儊臧€旃�: $1,000 雲疙姼雼� 鈮� $930搿�, 齑堦赴氚滍枆鞛�/甑“頇� 頂勲Μ氙胳梽鞚€ 鈮� 7%鞛呺媹雼�.
鞁犾毄雲胳稖: 歆赌旮夓潃 JPMorgan Chase Financial Company LLC鞕€ 氤挫鞚� JPMorgan Chase & Co.鞚� 靹犾垳鞙� 氍措嫶氤� 毂勲鞐� 鞚橃〈頃╇媹雼�.
靹鬼劙歆戩霃�: 旮办磮歆€靾樀鐢氙戈淡雽€順� 旮办垹欤�(鈥淢agnificent 7鈥�)鞐� 欷戩爯韴瀽頃橂┌, 2024雲� 3鞗� 21鞚�鞐� 頇曥爼霅橃棃瓿� 雲疙姼毵岅赴旯岇 甑劚膦呺鞚� 瓿犾爼霅╇媹雼�.
靹犿儩霅� 鞙勴棙: 氚半Μ鞏� 鞚错晿氍错暅靻愳嫟鞙勴棙, 靸來暅靾橃澋, 氚滍枆鞛�/氤挫鞚� 鞁犾毄鞙勴棙, 鞝滍暅霅� 鞙犽彊靹�(鞁滌灔臁办劚鞚橂 鞐嗢潓), 臧€瓴� 毂呾爼氚� 項れ 鞁� 鞚错暣靸侅订臧€電レ劚, 攵堩檿鞁ろ暅靹戈笀觳橂Μ.

鞚� 歃濌秾鞚€ 臁瓣贝攵€ 鞗愱笀氤错樃鞕€ 頃粯頄レ儊霅� 欤检嫕彀胳棳毳� 鞗愴晿电� 韴瀽鞛愳棎瓴� 鞝來暕頃橂┌, 雼澕甏€彀� 氚半Μ鞏� 鞙勴棙, 靹鬼劙歆戩, JPMorgan 鞁犾毄雲胳稖鞚� 臧愳垬頃� 靾� 鞛埖鐢韴瀽鞛愳棎瓴� 甓岇灔霅╇媹雼�. 靻岆摑歆€頄ロ槙鞚措倶鞕勳爠鞙勴棙須岉敿韴瀽鞛愳棎瓴尩鐢鞝來暕頃橃 鞎婌姷雼堧嫟.

JPMorgan Chase Financial Company LLC commercialise des Notes 脿 Barri猫re Capped de trois ans li茅es 脿 l'Indice Solactive US Mag 7 PR.

Dates cl茅s : Prix le 28 juillet 2025 ; date d鈥檕bservation unique le 28 juillet 2028 ; 茅ch茅ance le 2 ao没t 2028.
Nominal : 1 000 $ par note ; CUSIP 48136FLH3.
Profil de rendement : 鈥� Si l鈥橧ndice est sup茅rieur 脿 sa valeur initiale 脿 l鈥櫭ヽh茅ance, l鈥檌nvestisseur re莽oit 1 000 $ plus l鈥檃ppr茅ciation de l鈥檌ndice, plafonn茅e 脿 un Rendement Maximum 鈮� 50%. 鈥� Si l鈥檌ndice termine stable ou en baisse jusqu鈥櫭� 30 % (鈮� 70 % de la valeur initiale), le capital est rembours茅. 鈥� En dessous de la barri猫re de 70 %, l鈥檌nvestisseur subit la baisse de l鈥檌ndice au prorata 1 pour 1, s鈥檈xposant 脿 une perte pouvant d茅passer 30 % et atteindre 100 % du capital.
Valeur estim茅e : 鈮� 930 $ par note de 1 000 $, impliquant une prime initiale 茅metteur/structuration 鈮� 7 %.
Exposition cr茅dit : Les paiements d茅pendent des obligations senior non garanties de JPMorgan Chase Financial Company LLC et de son garant JPMorgan Chase & Co..
Concentration sectorielle : L鈥檌ndice sous-jacent est fortement concentr茅 sur les grandes valeurs technologiques am茅ricaines (芦 Magnificent 7 禄), d茅fini le 21 mars 2024 ; les composants sont fixes pendant la dur茅e de la note.
Risques s茅lectionn茅s : risque illimit茅脿 la baisse sous la barri猫re, rendement plafonn茅, risque de cr茅dit 茅metteur/garant, liquidit茅 limit茅e (pas d鈥檕bligation de tenue de march茅), conflits d鈥檌nt茅r锚ts potentiels dans la tarification/couverture, et traitement fiscal incertain.

Ces titres conviennent aux investisseurs recherchant une participation accrue en actions avec une protection conditionnelle du capital, acceptant le risque de barri猫re 脿 observation unique, la concentration sectorielle et l鈥檈xposition au cr茅dit JPMorgan. Ils ne sont pas destin茅s aux investisseurs recherchant un revenu ou totalement averses au risque.

Insights

TL;DR Three-year JPM barrier notes offer 鈮� 50 % capped upside, 30 % soft protection, but full downside beyond, and rely on JPM credit.

The product delivers equity-linked growth potential while shielding principal down to a 30 % decline. The single observation increases gap-risk: a severe market drop on 28 Jul 2028 triggers full loss participation. With the estimated value at only 93 % of issue price, buyers pay a 7 % premium relative to JPM鈥檚 internal model, reflecting distribution, hedging and funding costs. Sector concentration in the new Solactive US Mag 7 Index magnifies volatility; lack of interim coupons heightens opportunity cost. Credit risk is remote for an A-rated bank but non-trivial over three years. Liquidity is dealer-driven, and bid鈥搊ffer spreads can be significant. Overall, the note is a trade-off between capped upside and tail-risk mitigation, suitable for tactical allocation rather than core holdings.

欤检殧鞚检爼: 臧€瓴� 毂呾爼鞚� 2025雲� 7鞗� 28鞚�; 雼澕甏€彀办澕 2028雲� 7鞗� 28鞚�; 毵岅赴鞚� 2028雲� 8鞗� 2鞚�.
鞎‰┐臧赌: 雲疙姼雼� $1,000; CUSIP 48136FLH3.
靾橃澋甑“: 鈥� 毵岅赴鞁� 歆€靾橁皜齑堦赴臧€旃� 鞚挫儊鞚措┐ 韴瀽鞛惖鐢 $1,000瓿� 歆€靾� 靸侅姽攵勳潉氚涭溂氅�, 斓滊寑靾橃澋毳� 鈮� 50%搿� 鞝滍暅霅╇媹雼�. 鈥� 歆€靾橁皜齑堦赴臧€旃橃潣 70% 鞚挫儊(斓滊寑 30% 頃橂澖)鞐愳劀毵堦皭頃橂┐ 鞗愱笀鞚� 氚橅櫂霅╇媹雼�. 鈥� 70% 氙鸽鞙茧 頃橂澖頃� 瓴届毎韴瀽鞛惖鐢歆€靾� 頃橂澖攵勳潉 1雽€1搿� 攵€雼错晿鞐� 斓滊寑 100% 鞗愱笀靻愳嫟鞙勴棙鞚� 鞛堨姷雼堧嫟.
鞓堨儊臧€旃�: $1,000 雲疙姼雼� 鈮� $930搿�, 齑堦赴氚滍枆鞛�/甑“頇� 頂勲Μ氙胳梽鞚€ 鈮� 7%鞛呺媹雼�.
鞁犾毄雲胳稖: 歆赌旮夓潃 JPMorgan Chase Financial Company LLC鞕€ 氤挫鞚� JPMorgan Chase & Co.鞚� 靹犾垳鞙� 氍措嫶氤� 毂勲鞐� 鞚橃〈頃╇媹雼�.
靹鬼劙歆戩霃�: 旮办磮歆€靾樀鐢氙戈淡雽€順� 旮办垹欤�(鈥淢agnificent 7鈥�)鞐� 欷戩爯韴瀽頃橂┌, 2024雲� 3鞗� 21鞚�鞐� 頇曥爼霅橃棃瓿� 雲疙姼毵岅赴旯岇 甑劚膦呺鞚� 瓿犾爼霅╇媹雼�.
靹犿儩霅� 鞙勴棙: 氚半Μ鞏� 鞚错晿氍错暅靻愳嫟鞙勴棙, 靸來暅靾橃澋, 氚滍枆鞛�/氤挫鞚� 鞁犾毄鞙勴棙, 鞝滍暅霅� 鞙犽彊靹�(鞁滌灔臁办劚鞚橂 鞐嗢潓), 臧€瓴� 毂呾爼氚� 項れ 鞁� 鞚错暣靸侅订臧€電レ劚, 攵堩檿鞁ろ暅靹戈笀觳橂Μ.

JPMorgan Chase Financial Company LLC commercialise des Notes 脿 Barri猫re Capped de trois ans li茅es 脿 l'Indice Solactive US Mag 7 PR.

Dates cl茅s : Prix le 28 juillet 2025 ; date d鈥檕bservation unique le 28 juillet 2028 ; 茅ch茅ance le 2 ao没t 2028.
Nominal : 1 000 $ par note ; CUSIP 48136FLH3.
Profil de rendement : 鈥� Si l鈥橧ndice est sup茅rieur 脿 sa valeur initiale 脿 l鈥櫭ヽh茅ance, l鈥檌nvestisseur re莽oit 1 000 $ plus l鈥檃ppr茅ciation de l鈥檌ndice, plafonn茅e 脿 un Rendement Maximum 鈮� 50%. 鈥� Si l鈥檌ndice termine stable ou en baisse jusqu鈥櫭� 30 % (鈮� 70 % de la valeur initiale), le capital est rembours茅. 鈥� En dessous de la barri猫re de 70 %, l鈥檌nvestisseur subit la baisse de l鈥檌ndice au prorata 1 pour 1, s鈥檈xposant 脿 une perte pouvant d茅passer 30 % et atteindre 100 % du capital.
Valeur estim茅e : 鈮� 930 $ par note de 1 000 $, impliquant une prime initiale 茅metteur/structuration 鈮� 7 %.
Exposition cr茅dit : Les paiements d茅pendent des obligations senior non garanties de JPMorgan Chase Financial Company LLC et de son garant JPMorgan Chase & Co..
Concentration sectorielle : L鈥檌ndice sous-jacent est fortement concentr茅 sur les grandes valeurs technologiques am茅ricaines (芦 Magnificent 7 禄), d茅fini le 21 mars 2024 ; les composants sont fixes pendant la dur茅e de la note.
Risques s茅lectionn茅s : risque illimit茅脿 la baisse sous la barri猫re, rendement plafonn茅, risque de cr茅dit 茅metteur/garant, liquidit茅 limit茅e (pas d鈥檕bligation de tenue de march茅), conflits d鈥檌nt茅r锚ts potentiels dans la tarification/couverture, et traitement fiscal incertain.

07/08/2025 - 06:01 AM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934

For the month of July 2025

Commission File Number: 001-35135

Sequans Communications S.A.

(Translation of Registrant’s name into English)

15-55 boulevard Charles de Gaulle

92700 Colombes, France

Telephone : +33 1 70 72 16 00

(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F R Form 40-F £

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Yes £ NoR

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Yes £ NoR

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

The information in this report furnished on Form 6-K shall be incorporated by reference into each of the following Registration Statements under the Securities Act of 1933, as amended, of the registrant: Form S-8 (File Nos. 333-187611, 333-194903, 333-203539, 333-211011, 333-214444, 333-215911, 333-219430, 333-226458, 333-233473, 333-239968, 333-259914 and 333-266481) and Form F-3 (File Nos. 333-255865 and 333-271884).

EXPLANATORY NOTE

Issuance of Equity and Convertible Debt

On July 7, 2025, Sequans Communications S.A. (the “Company”) completed its previously announced transaction involving the issuance of (i) (a) 117,198,762 American Depositary Shares (the “ADSs”), each ADS representing 10 ordinary shares, nominal value €0.01 per share, of the Company, and pre-funded warrants to purchase up to an aggregate of 22,245,852 ADSs and (b) common warrants to purchase up to 20,916,680 ADSs (or pre-funded warrants in lieu thereof), at a combined purchase price of $1.40 per ADS and common warrant, or $1.39 per pre-funded warrant and common warrant, contributing gross proceeds to the Company of approximately $195 million (the “Equity Financing”) and (ii) $189 million in principal amount of secured convertible debentures due July 7, 2028, at an original issue discount of four percent, and common warrants to purchase up to 20,249,997 ADSs (or pre-funded warrants in lieu thereof), contributing gross proceeds to the Company of approximately $181 million (“Debt Financing” and, together with the Equity Financing, the “Financing”), bringing total gross proceeds received by the Company from the Financing to approximately $376 million.

The Financing was exempt from registration pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended.

Issuance of Press Release

On July 8, 2025, the Company issued a press release announcing the closing of the Financing, a copy of which is attached to this Form 6-K as Exhibit 99.1 and is incorporated herein by reference.

No Offer or Solicitation

Neither this Form 6-K nor the exhibit attached hereto shall constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

EXHIBIT INDEX

The following exhibit is filed as part of this Form 6-K:


Exhibit			Description

99.1			Press release dated July 8, 2025

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SEQUANS COMMUNICATIONS S.A.

(Registrant)

Date: July 8, 2025

By:

/s/ Deborah Choate

Deborah Choate

Chief Financial Officer

Source:

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