SUNNYVALE, Calif., May 23, 2018 /PRNewswire/ -- QuickLogic
Corporation (NASDAQ: QUIK) ("QuickLogic" or the "Company"), a
developer of ultra-low power multi-core voice enabled SoCs,
embedded FPGA IP, display bridge and programmable logic solutions,
today announced that it intends to offer and sell, subject to
market and other conditions, shares of its common stock and
corresponding warrants to purchase shares of its common stock in an
underwritten registered public offering. The Company anticipates
that the shares of common stock and corresponding warrants will be
sold in combination. The securities to be sold in the proposed
offering will be sold by the Company. The proposed offering is
subject to market conditions, and there can be no assurance as to
whether or when the offering may be completed, or as to the final
size or terms of the offering.
The Company intends to use the net proceeds from the proposed
offering for working capital, the development of next generation
new products and general corporate purposes. The Company may also
use a portion of the net proceeds to acquire and/or license
technologies and acquire and/or invest in businesses when the
opportunity arises; however, the Company currently has no
commitments or agreements and is not involved in any negotiations
with respect to any such transactions.
There is no established public trading market for the warrants
and the Company does not expect a market to develop.
Additionally, the Company does not intend to apply for the listing
of the warrants on any national securities exchange or other
nationally recognized trading system.
Craig-Hallum Capital Group is acting as the sole book-running
manager for the proposed offering. Roth Capital Partners is acting
as co-manager for the proposed offering.
The proposed offering is being made pursuant to a shelf
registration statement on Form S-3 that was declared effective by
the Securities and Exchange Commission (the "SEC") on March 16, 2017. A preliminary prospectus
supplement and accompanying prospectus related to the proposed
offering have been filed with the SEC and may be obtained by
visiting EDGAR on the SEC's website at www.sec.gov, or by
contacting Craig-Hallum Capital Group LLC, 222 South Ninth Street,
Suite 350, Minneapolis, MN 55402,
by telephone at 612-334-6300, or by email at prospectus@chlm.com.
The final terms of the proposed offering will be disclosed in a
final prospectus supplement to be filed with the SEC.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities in this
offering. There shall not be any sale of these securities in
any state or jurisdiction in which such offering, sale or
solicitation would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About QuickLogic
QuickLogic Corporation (NASDAQ: QUIK)
enables OEMs to maximize battery life for highly differentiated,
immersive user experiences with Smartphone, Wearable and IoT
devices. QuickLogic delivers these benefits through industry
leading ultralow power customer programmable SoC semiconductor
solutions, embedded software, and algorithm solutions for always-on
voice and sensor processing. The Company's embedded FPGA initiative
also enables SoC designers to easily implement post production
changes, and increase revenue by providing hardware programmability
to their end customers. For more information about QuickLogic,
visit www.quickloqic.com.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995
This press release contains statements
that are forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. These include
statements regarding, but not limited to, the intention to offer
the securities and the expected uses of the proceeds from the
proposed offering. Forward-looking statements can be identified by
the use of words such as "may," "will," "plan," "should," "expect,"
"anticipate," "estimate," "continue" or comparable terminology.
Such forward-looking statements are inherently subject to certain
risks, trends and uncertainties, including market conditions and
future decisions regarding the Company's use of cash resources,
many of which the Company cannot predict with accuracy and some of
which the Company might not even anticipate, and involve factors
that may cause actual results to differ materially from those
projected or suggested. Readers are cautioned not to place undue
reliance on these forward-looking statements and are advised to
consider the factors listed above together with the additional
factors under the heading "Forward-Looking Statements" and "Risk
Factors" in the Company's Annual Reports on Form 10-K, as may be
supplemented or amended by the Company's Quarterly Reports on Form
10-Q. The Company assumes no obligation to update or supplement
forward-looking statements that become untrue because of subsequent
events, new information or otherwise.
Code: QUIK-G
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SOURCE QuickLogic Corporation