IRVINE, Calif., Sept. 26, 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 that on September 23, 2016, it completed its
previously-announced underwritten public offering of 9,200,000
shares of its common stock at a price to the public of $1.25 per share. The number of shares Netlist
sold in the offering includes the underwriters' full exercise of
their option to purchase 1,200,000 additional shares of common
stock. Gross proceeds to Netlist were approximately $11.5 million, before deducting underwriting
discounts and commissions and before deducting estimated offering
expenses payable by Netlist.
B. Riley & Co., LLC and Craig-Hallum Capital Group LLC acted
as joint bookrunners for the offering and The Benchmark Company
acted as the co-manager for the offering.
A registration statement relating to shares of the common stock
of Netlist has been declared effective by the Securities and
Exchange Commission on September 2,
2016. A preliminary prospectus supplement related to the
offering was filed with the U.S. Securities and Exchange Commission
(the "SEC") on September 7, 2016. A
final prospectus supplement related to the offering was filed with
the SEC on September 16, 2016.
Copies of the final prospectus supplement and accompanying
prospectus for 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,
CA 90025, or by telephone at (888) 295-1055, 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 and final prospectus supplements 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.
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SOURCE Netlist, Inc.