IRVINE, Calif., Sept. 7, 2016 /PRNewswire/ -- Netlist, Inc.
("Netlist" or the "Company") (NASDAQ: NLST), a leading provider of
high performance and hybrid memory solutions for the cloud
computing and storage markets, today announced a proposed
$15 million underwritten public
offering of its common stock, subject to market and other
conditions. In addition, the Company intends to grant the
underwriters an option to purchase additional shares equal to up to
15% of the aggregate number of shares to be sold in the
offering.
Netlist intends to use the net proceeds from the offering, if
completed, to accelerate its patent monetization campaign, to
commercialize its HybriDIMM products and for general corporate
purposes. B. Riley & Co., LLC and Craig-Hallum Capital Group
LLC are acting as joint bookrunners for the offering, and The
Benchmark Company is acting as the co-manager for the offering.
The shares are being offered pursuant to an effective shelf
registration statement on Form S-3 that was previously filed with
the Securities and Exchange Commission (SEC). The securities may be
offered only by means of a prospectus. The prospectus and a
preliminary prospectus supplement related to the offering have been
filed with the SEC and are available on the SEC's website located
at http://www.sec.gov and may also be obtained from B. Riley &
Co., LLC, 11100 Santa Monica Blvd., Suite 800, Los Angeles, California 90025, or by telephone
at (888) 295-0155, or by email at capitalmarkets@brileyco.com, or
from Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite
350, Minneapolis, MN 55402,
telephone 612-334-6300, email: prospectus@chlm.com.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor may there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Netlist, Inc.
Netlist creates solutions that
accelerate turning raw data into business insight. The company
produces next generation persistent memory solutions that enable
businesses to transact quicker, gain insight faster and reduce
datacenter cost. Flagship products NVvault® and EXPRESSvault®
accelerate system performance and provide mission critical fault
tolerance. HybriDIMM™, Netlist's next-generation Storage
Class Memory, lowers cost and improves performance of big data
analytics and in-memory computing. The company holds a portfolio of
patents, many seminal, in the area of hybrid memory, storage class
memory, rank multiplication and load-reduction, among others.
Netlist is part of the Russell Microcap® Index. To learn
more, visit www.netlist.com.
Safe Harbor Statement:
This news release contains
forward-looking statements regarding future events and the future
performance of Netlist. A forward-looking statement is neither a
prediction nor a guarantee of future events or circumstances and is
based on currently available market, operating, financial and
competitive information and assumptions. Forward-looking statements
involve risks and uncertainties that could cause actual results to
differ materially from those expected or projected, including,
among others, risks associated with the launch and commercial
success of our products, programs and technologies; the success of
product, joint development and licensing partnerships; continuing
development, qualification and volume production of HybriDIMM™ , as
well as our other products and technologies; the rapidly-changing
nature of technology in our industry; risks associated with
intellectual property, including patent infringement litigation
initiated by us or by others against us as well as the costs and
unpredictability of litigation over infringement of our
intellectual property; volatility in the pricing of DRAM ICs and
NAND flash; changes in and uncertainty of customer acceptance of,
and demand for, our existing products and products under
development, including predictions about the size of the market for
our products; delays in our and our customers' product releases and
development; introductions of new products by competitors; changes
in end-user demand for technology solutions; and general economic
and market conditions. Other risks and uncertainties are described
in our annual report on Form 10-K filed on March 4, 2016, and subsequent filings with the
U.S. Securities and Exchange Commission we make from time to time,
including the preliminary prospectus supplement that we filed in
connection with the proposed offering. Except as required by law,
we undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Logo - http://photos.prnewswire.com/prnh/20150225/177763LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/netlist-inc-announces-proposed-public-offering-of-common-stock-300324181.html
SOURCE Netlist, Inc.