The NYSE will review the compliance plan within 45 days of submission — acceptance or rejection of the plan is the next binary catalyst. Monitor for the plan submission within 90 days of September 14, 2026 and any subsequent NYSE determination.
Price Chart
Executive Summary
Sequans Communications disclosed on September 23, 2026 that it received a NYSE non-compliance notice on September 14, 2026 for failing the market capitalization and stockholders' equity continued listing standards (Section 802.01B). The company has 90 days to submit a business plan and up to 9 months to cure, with its ADSs continuing to trade under a .BC designation. This follows a FY2025 20-F that reported a $109.3 million net loss, a 29% revenue decline, and a going concern qualification.
Key Facts
- NYSE notified Sequans on September 14, 2026 of non-compliance with Section 802.01B due to average global market cap below $50 million over 30 consecutive trading days and stockholders' equity below $50 million.
- Company has 90 days to submit a business plan to NYSE and up to 9 months to cure the deficiency.
- ADSs will continue trading under symbol SQNS with a .BC designation indicating below compliance.
- Prior FY2025 20-F reported net loss of $109.3 million, revenue decline of 29% to $26.3 million, and a going concern qualification.
- Company is developing a compliance plan citing completion of Bitcoin treasury exit and focus on semiconductor growth strategy.
Financial Impact
NYSE delisting risk with a 9-month cure period; prior annual report showed $109.3M net loss and $69.5M negative working capital
Risk Factors
- NYSE may reject the compliance plan, leading to accelerated delisting proceedings.
- Company may fail to cure within the 9-month period, resulting in delisting and reduced liquidity.
- Going concern qualification from FY2025 auditor report remains unresolved.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001383395-26-000108 |
| Document: septembernysecompliancenot.htm | 0001383395-26-000108 |
| Document: 0001383395-26-000108-index-headers.html | 0001383395-26-000108 |
| Document: 0001383395-26-000108-index.html | 0001383395-26-000108 |
| Document: 0001383395-26-000108.txt | 0001383395-26-000108 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 24, 2026 4w ago | 6-K | $2.85 | awaiting T+60 | — | $2.47 (−13.33%) |
Sep 23, 2026 4w ago | 6-K | $2.85 | awaiting T+60 | — | $2.47 (+13.33%) |
Aug 4, 2026 11w ago | 6-K | $2.71 | awaiting T+60 | — | $2.47 (−8.86%) |
Jun 30, 2026 16w ago | 6-K | $3.40 $2.97 | ▲ +12.65% | ▲ +16.21% | $2.47 (+27.35%) |
May 28, 2026 21w ago | 6-K | $4.44 $3.06 | ▼ −31.08% | ▼ −32.82% | $2.47 (−44.37%) |
May 26, 2026 21w ago | 6-K | $3.97 $3.01 | ▲ +24.18% | ▲ +26.91% | $2.47 (+37.78%) |
May 11, 2026 24w ago | 20-F | $3.93 $2.76 | ▲ +29.77% | ▲ +34.16% | $2.47 (+37.15%) |
May 5, 2026 24w ago | 6-K | $3.51 $2.48 | ▲ +29.34% | ▲ +32.08% | $2.47 (+29.63%) |
US Market Status
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