Sequans Communications S.A. was notified by the New York Stock Exchange on April 9, 2024, of its non-compliance with continued listing standards. The company's average global market capitalization fell below $50 million over a consecutive 30-trading-day period.
Additionally, Sequans' stockholders' equity was simultaneously below $50 million, and the average closing price of its American Depositary Shares (ADSs) was below $1.00 per share over a consecutive 30-trading-day period. These conditions triggered the NYSE's non-compliance notification.
The notice did not result in immediate delisting, and Sequans was required to take corrective actions to regain compliance. This situation highlighted the need for strategic financial adjustments to meet exchange requirements.
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