SUNNYVALE, Calif., Dec. 28, 2018 /PRNewswire/ -- QuickLogic
Corporation (NASDAQ: QUIK), a developer of ultra-low power
multi-core voice enabled SoCs, embedded FPGA (eFPGA) IP, display
bridge, programmable logic solutions and Endpoint AI solutions,
amended its Loan and Security Agreement with Heritage Bank of
Commerce on December 21, 2018. The
amendment increased the revolving line of credit from $9 million to $15
million.
"This increased facility provides us with more liquidity and
flexibility in working capital. It also gives QuickLogic greater
ability to execute on its expanding strategic initiatives,
including the company's newly announced QuickAI platform and
evolving intellectual property roadmaps," stated Sue
Cheung, QuickLogic's Chief Financial Officer.
The increased credit facility will be used by QuickLogic for
general corporate purposes, including working capital. The credit
agreement runs through September 28,
2020. Terms and Conditions can be found in the Form 8-K to
be filed by QuickLogic with the SEC on December 28, 2018.
About QuickLogic
QuickLogic Corporation
(NASDAQ: QUIK) enables OEMs to maximize battery life for highly
differentiated, immersive user experiences with Smartphone,
Wearable, Hearable and IoT devices. QuickLogic delivers these
benefits through industry leading ultra-low 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, please visit www.quicklogic.com.
QuickLogic uses its website (www.quicklogic.com), the company
blog QuickLogic
HotSpot (http://blog.quicklogic.com), corporate Twitter
account (@QuickLogic_Corp), Facebook page
(https://www.facebook.com/QuickLogic), and LinkedIn page
(https://www.linkedin.com/company/13512/) as channels of
distribution of information about its products, its planned
financial and other announcements, its attendance at upcoming
investor and industry conferences, and other matters. Such
information may be deemed material information, and QuickLogic may
use these channels to comply with its disclosure obligations under
Regulation FD. Therefore, investors should monitor the company's
website and its social media accounts in addition to following the
company's press releases, SEC filings, public conference calls, and
webcasts.
The QuickLogic logo and QuickLogic are registered trademarks
and ArcticPro is a trademark of QuickLogic Corporation. All other
brands or trademarks are the property of their respective holders
and should be treated as such.
Code: QUIK-G
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SOURCE QuickLogic Corporation