IRVINE, Calif., Aug. 16,
2017 /PRNewswire/ -- Netlist, Inc. ("Netlist" or the
"Company") (NASDAQ: NLST), a leading provider of high-performance
modular memory subsystems, today announced that it intends to offer
and sell shares of its common stock in an underwritten registered
public offering. In addition, Netlist expects to grant the
underwriters a 30-day option to purchase up to an additional 15% of
the shares of its common stock sold in the proposed offering to
cover over-allotments, if any. All shares of common stock to be
sold in the proposed offering will be offered by Netlist. The
proposed offering is subject to market and other conditions, and
there can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.
The Company intends to use the net proceeds from the offering,
if completed, for general corporate purposes, including working
capital and other general and administrative purposes. The Company
may also use the net proceeds from the proposed offering for
acquisitions of complementary products, technologies or businesses,
but the Company does not have any current plans, agreements or
commitments for any specific acquisitions at this time.
Craig-Hallum Capital Group LLC and Roth Capital Partners are
acting as the joint book-running managers for the proposed
offering.
The proposed offering is being made pursuant to the Company's
shelf registration statement on Form S-3 (File No. 333‑199446)
that was declared effective by the Securities and Exchange
Commission ("SEC") on September 2, 2016. The shares may be
offered only by means of a prospectus. A preliminary prospectus
supplement and accompanying base prospectus relating to and
describing the terms of the proposed offering were filed with the
SEC on August 16, 2017 and are available on the SEC's website
located at www.sec.gov and may also be obtained by
contacting Craig-Hallum Capital Group LLC, 222 South Ninth Street,
Suite 350, Minneapolis, Minnesota
55402, by telephone at (612) 334-6300 or by email at
prospectus@chlm.com or Roth Capital Partners, LLC, 888 San Clemente
Drive, Newport Beach, California
92660, by telephone at (800) 678-9147 or by email at
rothecm@roth.com. The final terms of the proposed offering will be
disclosed in a final prospectus supplement to be filed with the
SEC. Before you invest, you should read the prospectus supplement
and accompanying base prospectus in the registration statement and
other documents the Company has incorporated by reference therein
for more complete information about the Company and the proposed
offering.
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
Netlist is a leading provider of
high-performance modular memory subsystems serving customers in
diverse industries that require superior memory performance to
empower critical business decisions. Flagship products NVvault® and
EXPRESSvault® enable customers to accelerate data running through
their servers and storage and reliably protect enterprise-level
cache, metadata and log data by providing near instantaneous
recovery in the event of a system failure or power outage.
HybriDIMM™, Netlist's next-generation storage class memory product,
addresses the growing need for real-time analytics in Big Data
applications and in-memory databases. Netlist holds a portfolio of
patents, many seminal, in the areas of hybrid memory, storage class
memory, rank multiplication and load reduction. 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 within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are statements other than historical facts and often
address future events or circumstances. Forward-looking statements
contained in this news release include statements about Netlist's
intention to offer and sell shares of its common stock in the
proposed offering. All forward-looking statements reflect
management's present expectations regarding future events and are
subject to known and unknown risks, uncertainties and other factors
that could cause actual results to differ materially from those
expressed in or implied by any forward-looking statements. These
risks, uncertainties and other factors include, among others:
general economic, political and market conditions; Netlist's
ability to satisfy the conditions required to complete the proposed
offering; Netlist's perception of its cash needs and the
anticipated use of proceeds from the proposed offering; and
Netlist's perception of the future availability of equity or debt
financing needed to fund its business. These and other risks and
uncertainties relating to Netlist's business and performance are
described in Netlist's annual and quarterly reports filed with the
SEC and the prospectus supplement and accompanying base prospectus
for the proposed offering. Given these risks, uncertainties and
other important factors, undue reliance should not be placed on
these forward-looking statements. These forward-looking statements
represent Netlist's estimates and assumptions only as of the date
made, and except as required by law, Netlist undertakes no
obligation to revise or update any forward-looking statements for
any reason.
Contacts
Netlist, Inc.
Gail M. Sasaki
Chief Financial Officer
(949) 435-0025
Brainerd Communicators, Inc.
Mike Smargiassi/ William Metzger
NLST@braincomm.com
(212) 986-6667
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SOURCE Netlist, Inc.