SAN JOSE, Calif., Feb. 9, 2022 /PRNewswire/ -- QuickLogic
Corporation (NASDAQ: QUIK), a developer of ultra-low power
multi-core voice-enabled SoCs, embedded FPGA IP, and Endpoint AI
solutions, today announced current and new institutional investors
have purchased, in separate private placement transactions, 310,000
shares, or 2.6 percent of the current shares outstanding,
raising proceeds of approximately $1.48 million.
"We are pleased with the continued financial support we are
receiving from both our long-time shareholders and investors who
have followed QuickLogic for many years. They understand the
tremendous opportunity we have with our Open Source initiatives,"
said Brian Faith, President and CEO
of QuickLogic. "Following our recent announcement that we would be
at or above operating cash breakeven in Q4, these investors again
reached out to us wanting to further support our efforts. With our
pipeline of business growing, this additional capital adds greater
financial resources to quickly execute on our growth and
profitability objectives."
Conference Call to Discuss the Fourth Quarter and Fiscal Year
2021 Results on February 16.
As previously announced, QuickLogic will host a conference call
to discuss its fourth quarter and fiscal year 2021 results on
February 16, 2022, at 5:30 p.m. ET/2:30 p.m.
PT. Participants may access the call at 1-877- 407-0792 or
1-201-689-8263. No passcode is needed. A webcast of the conference
call will be posted in QuickLogic's IR Site Events Page and be
available for 12 months.
About QuickLogic
QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor
company that develops low power, multi-core semiconductor platforms
and Intellectual Property (IP) for Artificial Intelligence (AI),
voice and sensor processing. The solutions include embedded FPGA IP
(eFPGA) for hardware acceleration and pre-processing, and
heterogeneous multi-core SoCs that integrate eFPGA with other
processors and peripherals. The Analytics Toolkit from our recently
acquired wholly owned subsidiary, SensiML Corporation, completes
the end-to-end solution with accurate sensor algorithms using AI
technology. The full range of platforms, software tools and eFPGA
IP enables the practical and efficient adoption of AI, voice, and
sensor processing across mobile, wearable, hearable, consumer,
industrial, edge and endpoint IoT. For more information, visit
www.quicklogic.com and https://www.quicklogic.com/blog/.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 and other Federal
securities laws. For example, we are using forward-looking
statements when we discuss the completion of the private placement;
the satisfaction of customary closing conditions related to the
private placement and the intended use of net proceeds from the
private placement, as well as, QuickLogic's future operations and
its ability to capitalize on potential opportunities, including
those related to open source initiatives. QuickLogic may not
actually achieve the plans, carry out the intentions or meet the
expectations or projections disclosed in the forward-looking
statements and you should not place undue reliance on these
forward-looking statements. Because such statements deal with
future events and are based on QuickLogic's current expectations,
they are subject to various risks and uncertainties and actual
results, performance or achievements of QuickLogic that could
differ materially from those described in or implied by the
statements in this press release, including the projected financial
results. The foregoing review of important factors that could cause
actual events to differ from expectations should not be construed
as exhaustive and should be read in conjunction with statements
that are included herein and elsewhere, including those risks
discussed in QuickLogic's filings with the Securities and Exchange
Commission. Except as otherwise required by law, QuickLogic
disclaims any intention or obligation to update or revise any
forward-looking statements, which speak only as of the date hereof,
whether as a result of new information, future events, or
circumstances or otherwise.
The QuickLogic logo and QuickLogic are registered trademarks
of QuickLogic Corporation. All other brands or trademarks are the
property of their respective holders and should be treated as
such.
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SOURCE QuickLogic Corporation