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Sequans Communications S.A. (SQNS) released a Form 6-K summarizing the 30 June 2025 combined ordinary and extraordinary shareholder meeting. Holders of 254 358 926 ordinary shares (99.9 % of shares outstanding) voted. All 19 agenda items passed except resolution 17, which proposed a capital increase reserved for employees.

Ordinary agenda highlights: shareholders approved the 2024 statutory and consolidated financial statements, ratified the appropriation of 2024 net profit, endorsed related-party agreements, confirmed the compensation plan for non-executive directors, renewed Richard Nottenburg’s directorship and appointed Jason Cohenour. Support levels exceeded 94 % on every ordinary item.

Extraordinary matters saw strong backing for governance and financing flexibility. Shareholders acknowledged that year-end 2024 equity was restored to more than half of share capital, satisfying French legal thresholds. They approved: (i) issuance of stock warrants covering up to 2.52 million ordinary shares, (ii) option, warrant and free-share plans for employees and management, capped at 12 million ordinary shares, (iii) authority for the Board to issue up to €70 million in new equity to specified investors, and (iv) authorization for buy-backs and subsequent share cancellation. Each received roughly 75 %–80 % support. An amendment to the corporate purpose and routine powers filings were also adopted.

Resolution 17—a separate employee-reserved capital increase—garnered only 4.9 million votes for versus 249.0 million against, indicating shareholder resistance to additional dilution on preferential terms. No financial performance data were provided; the filing is limited to governance outcomes and does not alter earnings guidance.

Sequans Communications S.A. (SQNS) ha pubblicato un Modulo 6-K che riassume l'assemblea combinata ordinaria e straordinaria degli azionisti del 30 giugno 2025. Hanno votato i detentori di 254.358.926 azioni ordinarie (il 99,9% delle azioni in circolazione). Tutti i 19 punti all'ordine del giorno sono stati approvati, ad eccezione della risoluzione 17, che proponeva un aumento di capitale riservato ai dipendenti.

Punti salienti dell'ordine del giorno ordinario: gli azionisti hanno approvato il bilancio statutario e consolidato 2024, ratificato l'assegnazione dell'utile netto 2024, confermato gli accordi con parti correlate, approvato il piano di compensi per i consiglieri non esecutivi, rinnovato la carica di Richard Nottenburg e nominato Jason Cohenour. Il sostegno a ciascun punto ordinario ha superato il 94%.

Le questioni straordinarie hanno ricevuto un forte sostegno per la flessibilità nella governance e nel finanziamento. Gli azionisti hanno riconosciuto che il patrimonio netto a fine 2024 è stato ripristinato a oltre la metà del capitale sociale, soddisfacendo le soglie legali francesi. Hanno approvato: (i) l’emissione di warrant azionari fino a 2,52 milioni di azioni ordinarie, (ii) piani di opzioni, warrant e azioni gratuite per dipendenti e management, con un limite di 12 milioni di azioni ordinarie, (iii) l’autorizzazione al Consiglio per emettere fino a 70 milioni di euro in nuove azioni a investitori specifici e (iv) l’autorizzazione per riacquisti e successiva cancellazione di azioni. Ognuno ha ricevuto circa il 75%-80% di supporto. È stata inoltre adottata una modifica dello scopo sociale e le comunicazioni ordinarie di poteri.

La risoluzione 17—un aumento di capitale riservato ai dipendenti separato—ha ottenuto solo 4,9 milioni di voti favorevoli contro 249,0 milioni di voti contrari, indicando una resistenza degli azionisti a una diluizione aggiuntiva con condizioni preferenziali. Non sono stati forniti dati finanziari; il documento si limita ai risultati di governance e non modifica le previsioni sugli utili.

Sequans Communications S.A. (SQNS) publicó un Formulario 6-K que resume la junta combinada ordinaria y extraordinaria de accionistas del 30 de junio de 2025. Votaron los titulares de 254,358,926 acciones ordinarias (el 99.9% de las acciones en circulación). Todos los 19 puntos del orden del día fueron aprobados, excepto la resolución 17, que proponía un aumento de capital reservado para empleados.

Aspectos destacados de la agenda ordinaria: los accionistas aprobaron los estados financieros estatutarios y consolidados de 2024, ratificaron la distribución de las ganancias netas de 2024, respaldaron los acuerdos con partes relacionadas, confirmaron el plan de compensación para directores no ejecutivos, renovaron el cargo de Richard Nottenburg y nombraron a Jason Cohenour. El nivel de apoyo superó el 94% en cada punto ordinario.

Los asuntos extraordinarios recibieron un fuerte respaldo para la flexibilidad en gobernanza y financiamiento. Los accionistas reconocieron que el patrimonio neto a fin de 2024 se restauró a más de la mitad del capital social, cumpliendo los umbrales legales franceses. Aprobaron: (i) la emisión de warrants sobre acciones hasta 2.52 millones de acciones ordinarias, (ii) planes de opciones, warrants y acciones gratuitas para empleados y gerentes, con un límite de 12 millones de acciones ordinarias, (iii) la autoridad para que la Junta emita hasta 70 millones de euros en nuevas acciones a inversores específicos, y (iv) autorización para recompras y posterior cancelación de acciones. Cada uno recibió aproximadamente entre 75% y 80% de apoyo. También se adoptó una enmienda al objeto social y las presentaciones rutinarias de poderes.

La resolución 17—un aumento de capital separado reservado para empleados—obtuvo solo 4.9 millones de votos a favor frente a 249.0 millones en contra, indicando resistencia de los accionistas a una dilución adicional en términos preferenciales. No se proporcionaron datos financieros; el informe se limita a resultados de gobernanza y no altera las previsiones de ganancias.

Sequans Communications S.A. (SQNS)는 2025년 6월 30일에 열린 정기 및 임시 주주총회 요약을 담은 Form 6-K를 발표했습니다. 전체 발행 주식의 99.9%에 해당하는 254,358,926주의 보통주 보유자가 투표에 참여했습니다. 19개 안건 중 17번 결의안을 제외한 모든 안건이 통과되었습니다. 17번 결의안은 직원에게 배정된 자본 증자를 제안한 것이었습니다.

정기 안건 주요 내용: 주주들은 2024년도 법정 및 연결 재무제표를 승인하고, 2024년 순이익 배분을 비준했으며, 관련 당사자 계약을 승인하고, 비상임 이사의 보상 계획을 확정했습니다. 또한 Richard Nottenburg 이사의 임기를 연장하고 Jason Cohenour를 신규 이사로 선임했습니다. 모든 정기 안건에 대해 94% 이상의 지지율을 기록했습니다.

임시 안건에서는 지배구조 및 자금 조달 유연성에 대한 강한 지지가 있었습니다. 주주들은 2024년 말 자본이 자본금의 절반 이상으로 회복되었음을 확인하여 프랑스 법적 기준을 충족했습니다. 다음 사항들이 승인되었습니다: (i) 최대 252만 주의 보통주에 대한 스톡 워런트 발행, (ii) 직원 및 경영진을 위한 옵션, 워런트 및 무상주 계획(최대 1,200만 주 보통주 한도), (iii) 이사회가 특정 투자자에게 최대 7,000만 유로 규모의 신주를 발행할 수 있는 권한, (iv) 자사주 매입 및 이후 소각 승인. 각각 약 75%~80%의 지지를 받았습니다. 회사 목적 변경 및 정기 권한 신고도 채택되었습니다.

17번 결의안—직원 배정을 위한 별도의 자본 증자—는 찬성 490만 표, 반대 2억 4,900만 표로 주주들이 우대 조건에 따른 추가 희석에 반대하는 것으로 나타났습니다. 재무 실적 데이터는 제공되지 않았으며, 보고서는 지배구조 결과에 한정되며 수익 전망에는 영향을 미치지 않습니다.

Sequans Communications S.A. (SQNS) a publié un formulaire 6-K résumant l'assemblée générale ordinaire et extraordinaire combinée des actionnaires du 30 juin 2025. Les détenteurs de 254 358 926 actions ordinaires (99,9 % des actions en circulation) ont voté. Tous les 19 points à l'ordre du jour ont été adoptés, à l'exception de la résolution 17, qui proposait une augmentation de capital réservée aux employés.

Points forts de l'ordre du jour ordinaire : les actionnaires ont approuvé les états financiers statutaires et consolidés 2024, ratifié l'affectation du résultat net 2024, validé les conventions avec les parties liées, confirmé le plan de rémunération des administrateurs non exécutifs, renouvelé le mandat de Richard Nottenburg et nommé Jason Cohenour. Le taux de soutien a dépassé 94 % pour chaque point ordinaire.

Les questions extraordinaires ont bénéficié d'un fort soutien pour la flexibilité en matière de gouvernance et de financement. Les actionnaires ont reconnu que les capitaux propres de fin 2024 avaient été rétablis à plus de la moitié du capital social, respectant ainsi les seuils légaux français. Ils ont approuvé : (i) l'émission de bons de souscription d'actions portant sur jusqu'à 2,52 millions d'actions ordinaires, (ii) des plans d'options, de bons de souscription et d'actions gratuites pour les employés et la direction, plafonnés à 12 millions d'actions ordinaires, (iii) l'autorisation donnée au conseil d'administration d'émettre jusqu'à 70 millions d'euros de nouvelles actions à des investisseurs spécifiés, et (iv) l'autorisation de rachats d'actions suivis de leur annulation. Chacun a reçu environ 75 % à 80 % de soutien. Une modification de l'objet social ainsi que des dépôts de pouvoirs routiniers ont également été adoptés.

La résolution 17—une augmentation de capital distincte réservée aux employés—a recueilli seulement 4,9 millions de votes pour contre 249,0 millions contre, indiquant une résistance des actionnaires à une dilution supplémentaire à des conditions préférentielles. Aucune donnée financière n'a été fournie ; le document se limite aux résultats de gouvernance et ne modifie pas les prévisions de résultats.

Sequans Communications S.A. (SQNS) veröffentlichte ein Formular 6-K, das die kombinierte ordentliche und außerordentliche Hauptversammlung der Aktionäre am 30. Juni 2025 zusammenfasst. Inhaber von 254.358.926 Stammaktien (99,9 % der ausstehenden Aktien) haben abgestimmt. Alle 19 Tagesordnungspunkte wurden angenommen, mit Ausnahme von Beschluss 17, der eine Kapitalerhöhung zugunsten von Mitarbeitern vorschlug.

Höhepunkte der ordentlichen Tagesordnung: Die Aktionäre genehmigten den gesetzlichen und konsolidierten Jahresabschluss 2024, ratifizierten die Verwendung des Jahresüberschusses 2024, bestätigten Verträge mit verbundenen Parteien, billigten den Vergütungsplan für nicht geschäftsführende Direktoren, verlängerten die Amtszeit von Richard Nottenburg und bestellten Jason Cohenour. Die Zustimmung lag bei jedem ordentlichen Punkt über 94 %.

Bei den außerordentlichen Angelegenheiten gab es starke Unterstützung für mehr Flexibilität in der Governance und Finanzierung. Die Aktionäre bestätigten, dass das Eigenkapital Ende 2024 auf mehr als die Hälfte des Grundkapitals wiederhergestellt wurde, womit die französischen gesetzlichen Schwellenwerte erfüllt sind. Sie stimmten zu: (i) Ausgabe von Aktienoptionsscheinen für bis zu 2,52 Millionen Stammaktien, (ii) Optionen-, Optionsscheine- und Gratisaktienpläne für Mitarbeiter und Management mit einem Höchstbetrag von 12 Millionen Stammaktien, (iii) Ermächtigung des Vorstands zur Ausgabe von bis zu 70 Millionen Euro neuer Aktien an bestimmte Investoren sowie (iv) Genehmigung von Rückkäufen und anschließender Aktienvernichtung. Jeder Punkt erhielt etwa 75 %–80 % Zustimmung. Zudem wurde eine Satzungsänderung sowie routinemäßige Vollmachtsmeldungen angenommen.

Beschluss 17—eine separate Kapitalerhöhung zugunsten von Mitarbeitern—erzielte nur 4,9 Millionen Stimmen dafür gegenüber 249,0 Millionen dagegen und zeigt damit den Widerstand der Aktionäre gegen eine zusätzliche Verwässerung zu bevorzugten Konditionen. Es wurden keine Finanzkennzahlen bereitgestellt; die Einreichung beschränkt sich auf Governance-Ergebnisse und ändert die Ergebnisprognose nicht.

Positive
  • Equity restored to above 50 % of share capital, removing French legal compliance risk.
  • 18 of 19 resolutions approved, reflecting strong shareholder support for the Board.
  • Authorization for up to €70 million new equity and share buy-backs provides capital-structure flexibility.
  • Director appointments and compensation plan ratified, ensuring leadership continuity.
Negative
  • Rejection of employee-reserved capital increase (resolution 17) signals shareholder dilution concerns and may limit future employee equity participation.

Insights

TL;DR: Board-backed governance items cleared; employee share issue blocked—overall neutral impact.

Shareholders endorsed 18 of 19 resolutions, aligning with the Board’s recommendations and confirming confidence in management. Approval of equity incentive ceilings, warrant issuance and a €70 million shelf provides strategic flexibility for capital management and talent retention, although actual dilution remains capped at about 12 million ordinary shares (≈3 million ADS), a modest 4.7 % of current share count. The rejection of the employee-reserved capital increase removes one funding option but avoids perceived unfair dilution. Restoration of equity above 50 % of share capital resolves a key French statutory concern, lowering regulatory risk. Given the absence of operational or financial surprises, I view the filing as governance housekeeping with limited market impact.

TL;DR: Governance tidy-up, dilution control retained, negligible valuation effect.

Authorizations adopted today equip SQNS with buy-back flexibility and a pre-approved €70 million issuance to act swiftly if strategic financing is needed—positive from a liquidity standpoint. Equity incentive tools are intact, supporting hiring in the fiercely competitive IoT chipset space. However, investors signaled dilution discipline by vetoing the employee-only capital raise; this protects existing shareholders but could constrain future ESOP generosity. Because no earnings or outlook data changed, I classify the news as operationally neutral; trading response should be muted unless management rapidly taps the newly granted authorities.

Sequans Communications S.A. (SQNS) ha pubblicato un Modulo 6-K che riassume l'assemblea combinata ordinaria e straordinaria degli azionisti del 30 giugno 2025. Hanno votato i detentori di 254.358.926 azioni ordinarie (il 99,9% delle azioni in circolazione). Tutti i 19 punti all'ordine del giorno sono stati approvati, ad eccezione della risoluzione 17, che proponeva un aumento di capitale riservato ai dipendenti.

Punti salienti dell'ordine del giorno ordinario: gli azionisti hanno approvato il bilancio statutario e consolidato 2024, ratificato l'assegnazione dell'utile netto 2024, confermato gli accordi con parti correlate, approvato il piano di compensi per i consiglieri non esecutivi, rinnovato la carica di Richard Nottenburg e nominato Jason Cohenour. Il sostegno a ciascun punto ordinario ha superato il 94%.

Le questioni straordinarie hanno ricevuto un forte sostegno per la flessibilità nella governance e nel finanziamento. Gli azionisti hanno riconosciuto che il patrimonio netto a fine 2024 è stato ripristinato a oltre la metà del capitale sociale, soddisfacendo le soglie legali francesi. Hanno approvato: (i) l’emissione di warrant azionari fino a 2,52 milioni di azioni ordinarie, (ii) piani di opzioni, warrant e azioni gratuite per dipendenti e management, con un limite di 12 milioni di azioni ordinarie, (iii) l’autorizzazione al Consiglio per emettere fino a 70 milioni di euro in nuove azioni a investitori specifici e (iv) l’autorizzazione per riacquisti e successiva cancellazione di azioni. Ognuno ha ricevuto circa il 75%-80% di supporto. È stata inoltre adottata una modifica dello scopo sociale e le comunicazioni ordinarie di poteri.

La risoluzione 17—un aumento di capitale riservato ai dipendenti separato—ha ottenuto solo 4,9 milioni di voti favorevoli contro 249,0 milioni di voti contrari, indicando una resistenza degli azionisti a una diluizione aggiuntiva con condizioni preferenziali. Non sono stati forniti dati finanziari; il documento si limita ai risultati di governance e non modifica le previsioni sugli utili.

Sequans Communications S.A. (SQNS) publicó un Formulario 6-K que resume la junta combinada ordinaria y extraordinaria de accionistas del 30 de junio de 2025. Votaron los titulares de 254,358,926 acciones ordinarias (el 99.9% de las acciones en circulación). Todos los 19 puntos del orden del día fueron aprobados, excepto la resolución 17, que proponía un aumento de capital reservado para empleados.

Aspectos destacados de la agenda ordinaria: los accionistas aprobaron los estados financieros estatutarios y consolidados de 2024, ratificaron la distribución de las ganancias netas de 2024, respaldaron los acuerdos con partes relacionadas, confirmaron el plan de compensación para directores no ejecutivos, renovaron el cargo de Richard Nottenburg y nombraron a Jason Cohenour. El nivel de apoyo superó el 94% en cada punto ordinario.

Los asuntos extraordinarios recibieron un fuerte respaldo para la flexibilidad en gobernanza y financiamiento. Los accionistas reconocieron que el patrimonio neto a fin de 2024 se restauró a más de la mitad del capital social, cumpliendo los umbrales legales franceses. Aprobaron: (i) la emisión de warrants sobre acciones hasta 2.52 millones de acciones ordinarias, (ii) planes de opciones, warrants y acciones gratuitas para empleados y gerentes, con un límite de 12 millones de acciones ordinarias, (iii) la autoridad para que la Junta emita hasta 70 millones de euros en nuevas acciones a inversores específicos, y (iv) autorización para recompras y posterior cancelación de acciones. Cada uno recibió aproximadamente entre 75% y 80% de apoyo. También se adoptó una enmienda al objeto social y las presentaciones rutinarias de poderes.

La resolución 17—un aumento de capital separado reservado para empleados—obtuvo solo 4.9 millones de votos a favor frente a 249.0 millones en contra, indicando resistencia de los accionistas a una dilución adicional en términos preferenciales. No se proporcionaron datos financieros; el informe se limita a resultados de gobernanza y no altera las previsiones de ganancias.

Sequans Communications S.A. (SQNS)는 2025년 6월 30일에 열린 정기 및 임시 주주총회 요약을 담은 Form 6-K를 발표했습니다. 전체 발행 주식의 99.9%에 해당하는 254,358,926주의 보통주 보유자가 투표에 참여했습니다. 19개 안건 중 17번 결의안을 제외한 모든 안건이 통과되었습니다. 17번 결의안은 직원에게 배정된 자본 증자를 제안한 것이었습니다.

정기 안건 주요 내용: 주주들은 2024년도 법정 및 연결 재무제표를 승인하고, 2024년 순이익 배분을 비준했으며, 관련 당사자 계약을 승인하고, 비상임 이사의 보상 계획을 확정했습니다. 또한 Richard Nottenburg 이사의 임기를 연장하고 Jason Cohenour를 신규 이사로 선임했습니다. 모든 정기 안건에 대해 94% 이상의 지지율을 기록했습니다.

임시 안건에서는 지배구조 및 자금 조달 유연성에 대한 강한 지지가 있었습니다. 주주들은 2024년 말 자본이 자본금의 절반 이상으로 회복되었음을 확인하여 프랑스 법적 기준을 충족했습니다. 다음 사항들이 승인되었습니다: (i) 최대 252만 주의 보통주에 대한 스톡 워런트 발행, (ii) 직원 및 경영진을 위한 옵션, 워런트 및 무상주 계획(최대 1,200만 주 보통주 한도), (iii) 이사회가 특정 투자자에게 최대 7,000만 유로 규모의 신주를 발행할 수 있는 권한, (iv) 자사주 매입 및 이후 소각 승인. 각각 약 75%~80%의 지지를 받았습니다. 회사 목적 변경 및 정기 권한 신고도 채택되었습니다.

17번 결의안—직원 배정을 위한 별도의 자본 증자—는 찬성 490만 표, 반대 2억 4,900만 표로 주주들이 우대 조건에 따른 추가 희석에 반대하는 것으로 나타났습니다. 재무 실적 데이터는 제공되지 않았으며, 보고서는 지배구조 결과에 한정되며 수익 전망에는 영향을 미치지 않습니다.

Sequans Communications S.A. (SQNS) a publié un formulaire 6-K résumant l'assemblée générale ordinaire et extraordinaire combinée des actionnaires du 30 juin 2025. Les détenteurs de 254 358 926 actions ordinaires (99,9 % des actions en circulation) ont voté. Tous les 19 points à l'ordre du jour ont été adoptés, à l'exception de la résolution 17, qui proposait une augmentation de capital réservée aux employés.

Points forts de l'ordre du jour ordinaire : les actionnaires ont approuvé les états financiers statutaires et consolidés 2024, ratifié l'affectation du résultat net 2024, validé les conventions avec les parties liées, confirmé le plan de rémunération des administrateurs non exécutifs, renouvelé le mandat de Richard Nottenburg et nommé Jason Cohenour. Le taux de soutien a dépassé 94 % pour chaque point ordinaire.

Les questions extraordinaires ont bénéficié d'un fort soutien pour la flexibilité en matière de gouvernance et de financement. Les actionnaires ont reconnu que les capitaux propres de fin 2024 avaient été rétablis à plus de la moitié du capital social, respectant ainsi les seuils légaux français. Ils ont approuvé : (i) l'émission de bons de souscription d'actions portant sur jusqu'à 2,52 millions d'actions ordinaires, (ii) des plans d'options, de bons de souscription et d'actions gratuites pour les employés et la direction, plafonnés à 12 millions d'actions ordinaires, (iii) l'autorisation donnée au conseil d'administration d'émettre jusqu'à 70 millions d'euros de nouvelles actions à des investisseurs spécifiés, et (iv) l'autorisation de rachats d'actions suivis de leur annulation. Chacun a reçu environ 75 % à 80 % de soutien. Une modification de l'objet social ainsi que des dépôts de pouvoirs routiniers ont également été adoptés.

La résolution 17—une augmentation de capital distincte réservée aux employés—a recueilli seulement 4,9 millions de votes pour contre 249,0 millions contre, indiquant une résistance des actionnaires à une dilution supplémentaire à des conditions préférentielles. Aucune donnée financière n'a été fournie ; le document se limite aux résultats de gouvernance et ne modifie pas les prévisions de résultats.

Sequans Communications S.A. (SQNS) veröffentlichte ein Formular 6-K, das die kombinierte ordentliche und außerordentliche Hauptversammlung der Aktionäre am 30. Juni 2025 zusammenfasst. Inhaber von 254.358.926 Stammaktien (99,9 % der ausstehenden Aktien) haben abgestimmt. Alle 19 Tagesordnungspunkte wurden angenommen, mit Ausnahme von Beschluss 17, der eine Kapitalerhöhung zugunsten von Mitarbeitern vorschlug.

Höhepunkte der ordentlichen Tagesordnung: Die Aktionäre genehmigten den gesetzlichen und konsolidierten Jahresabschluss 2024, ratifizierten die Verwendung des Jahresüberschusses 2024, bestätigten Verträge mit verbundenen Parteien, billigten den Vergütungsplan für nicht geschäftsführende Direktoren, verlängerten die Amtszeit von Richard Nottenburg und bestellten Jason Cohenour. Die Zustimmung lag bei jedem ordentlichen Punkt über 94 %.

Bei den außerordentlichen Angelegenheiten gab es starke Unterstützung für mehr Flexibilität in der Governance und Finanzierung. Die Aktionäre bestätigten, dass das Eigenkapital Ende 2024 auf mehr als die Hälfte des Grundkapitals wiederhergestellt wurde, womit die französischen gesetzlichen Schwellenwerte erfüllt sind. Sie stimmten zu: (i) Ausgabe von Aktienoptionsscheinen für bis zu 2,52 Millionen Stammaktien, (ii) Optionen-, Optionsscheine- und Gratisaktienpläne für Mitarbeiter und Management mit einem Höchstbetrag von 12 Millionen Stammaktien, (iii) Ermächtigung des Vorstands zur Ausgabe von bis zu 70 Millionen Euro neuer Aktien an bestimmte Investoren sowie (iv) Genehmigung von Rückkäufen und anschließender Aktienvernichtung. Jeder Punkt erhielt etwa 75 %–80 % Zustimmung. Zudem wurde eine Satzungsänderung sowie routinemäßige Vollmachtsmeldungen angenommen.

Beschluss 17—eine separate Kapitalerhöhung zugunsten von Mitarbeitern—erzielte nur 4,9 Millionen Stimmen dafür gegenüber 249,0 Millionen dagegen und zeigt damit den Widerstand der Aktionäre gegen eine zusätzliche Verwässerung zu bevorzugten Konditionen. Es wurden keine Finanzkennzahlen bereitgestellt; die Einreichung beschränkt sich auf Governance-Ergebnisse und ändert die Ergebnisprognose nicht.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): June 26, 2025

 

Phoenix Motor Inc.

(Exact Name of Registrant as Specified in its Charter)

 

Delaware   001-41414   85-4319789

(State or other jurisdiction of

incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

 

1500 Lakeview Loop

Anaheim, CA

  92807
(Address of Principal Executive Offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (909) 987-0815

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, par value $0.0004 per share   PEVM   OTCID

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
   
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

 

 

 

Item 1.01 Entry into a Material Definitive Agreement.

 

On June 26, 2025, Phoenix Motor Inc. (“Phoenix” or the “Company”) entered into a Cooperation Agreement (the “Cooperation Agreement”) with Shandong Maolin Sida Automobile Co., Ltd. (“Maolin Sida”), Mengzhou Enbowei Automobile Technology Co., Ltd. (“Enbowei”) and the individual shareholders of Enbowei.

 

Under the Cooperation Agreement, Phoenix will establish a wholly owned subsidiary in Mengzhou, People’s Republic of China (the “Project Company”), with registered capital of RMB 20 million, to be contributed in stages as operational needs arise.

 

Maolin Sida shall grant the Project Company an exclusive, PRC-wide license for a 10 year term to manufacture and sell certain electric vehicle (“EV”) platforms (currently identified as the LV and QV platforms). License fees will equal 0% of bill of materials (“BOM”) cost in the first two years, 50% of the stated rate of BOM in years 3-4, and 100% thereafter, with the stated rate of 3% of BOM cost per vehicle for up to 10,000 units, 2% of BOM cost per vehicle for 10,001–30,000 units and 1% of BOM cost per vehicle for over 30,000 units.

 

Enbowei agreed to make its existing manufacturing facilities, equipment and related infrastructure available to the Project Company free of charge for 10 years. The Project Company will be responsible for ongoing utilities and operating costs. The term may be extended by an additional five years upon mutual agreement.

 

All equipment, improvements and intellectual property rights created in connection with the Cooperation Agreement will belong to the Project Company.

 

Following more than five but fewer than ten years of continuous operation of the Project Company, Phoenix may acquire 51% of the equity of Enbowei for nominal consideration of RMB 1, subject to a separate definitive agreement.

 

The Cooperation Agreement automatically terminates if the Project Company does not commence operations within three months of its formation.

 

The foregoing summary of the Cooperation Agreement does not purport to be complete and is qualified in its entirety by reference to the actual agreement, a non-binding English translation of which is filed herewith as Exhibit 10.1.

 

Item 9.01. Financial Statements and Exhibits.

 

Exhibit No.   Description
10.1   Translation of Cooperation Agreement, dated June 26, 2025, by and among Phoenix Motor Inc., Shandong Maolin Sida Automobile Co., Ltd., Mengzhou Enbowei Automobile Technology Co., Ltd. and the individual shareholders of Enbowei
10.1(a)   Original Cooperation Agreement (in Chinese) (for reference only)
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

 

 

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 hereunto duly authorized.

 

Dated: June 30, 2025 PHOENIX MOTOR INC.
   
  By: /s/ Xiaofeng Denton Peng
  Name: Xiaofeng Denton Peng
  Title: Chief Executive Officer and Chairman of the Board

 

 

 

FAQ

What percentage of Sequans (SQNS) shares were represented at the 2025 shareholder meeting?

Investors holding 254 358 926 ordinary shares—approximately 99.9 % of shares outstanding—were present or represented.

Which proposal at the SQNS 2025 AGM failed to pass?

Only resolution 17, authorizing a capital increase reserved for employees, was rejected (4.9 million for vs 249.0 million against).

How many shares are covered by the new equity incentive ceiling approved for SQNS?

Shareholders set an overall cap of 12 000 000 ordinary shares (≈3 000 000 ADS) for options, warrants and free shares.

What capital-raising authority did SQNS shareholders grant in 2025?

The Board may issue up to €70 million in new equity or equity-linked securities to specified investors.

Did shareholders approve Sequans' 2024 financial statements?

Yes. The statutory and consolidated 2024 accounts were approved with 244.1 million and 246.9 million votes in favor, respectively.
PHOENIX MOTOR INC.

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