SCHEDULE: Investor Group Boosts Stake in Sequans Communications

A group of investors led by Daniel Asher increased their beneficial ownership in Sequans Communications to over 10% as of December 31, 2025.

Summary

• Daniel Asher and affiliated entities (DBA Trading, LLC, AFO Blackberry, LLC, AFOB FIP MS, LLC) reported beneficial ownership of Sequans Communications Ordinary Shares.
• As of December 31, 2025, Daniel Asher beneficially owned 1,684,946 Ordinary Shares, representing 10.22% of the class.
• DBA Trading, LLC owned 1,171,503 shares (7.11% of the class).
• AFO Blackberry, LLC and AFOB FIP MS, LLC each owned 513,443 shares (3.12% of the class).
• The reporting persons hold shared voting and dispositive power over their respective shares.
• The shares were acquired for investment purposes and not with the intent to change or influence control of Sequans Communications.
• Transactions occurred between September 17, 2025, and January 6, 2026, with purchase prices ranging from $4.5022 to $10.0000 per share.

Sentiment

Score: 7

Explanation: The filing indicates a substantial increase in beneficial ownership by a group of investors, suggesting confidence in Sequans Communications' long-term value, despite the observed decline in share price during the acquisition period.

Positives

• A significant investor group, led by Daniel Asher, has increased its stake in Sequans Communications, indicating confidence in the company's long-term prospects.
• The group's aggregate ownership of 10.22% makes them a substantial shareholder, potentially providing stability and signaling perceived value.

Negatives

• Transaction data shows a declining share price for Sequans Communications during the period of significant purchases by the investor group, with prices falling from approximately $9-$10 in September/October 2025 to around $4.50 in December 2025.

Future Outlook

NA

Industry Context

This filing indicates increased investor interest in Sequans Communications, a company likely operating in the telecommunications or IoT connectivity sector. Such increased stakes by investor groups can sometimes signal perceived undervaluation or future growth potential within the industry, despite recent stock price performance.

Stakeholder Impact

• Shareholders: Increased institutional ownership could provide stability and potentially signal future positive developments or perceived undervaluation.

Key Dates

Recommendation

While the increased stake by a significant investor group suggests confidence, the observed decline in share price during their acquisition period warrants caution. Investors should hold and monitor Sequans Communications' operational performance and market conditions before making further investment decisions.

Keywords

Sequans Communications, SQNS, Schedule 13G, beneficial ownership, institutional investment, shareholder stake, Daniel Asher, DBA Trading, AFO Blackberry