Adesto Technologies Corporation Announces Proposed Public Offering of Common Stock
June 14 2017 - 4:00PM
Adesto Technologies Corporation (NASDAQ:IOTS), a leading provider
of application-specific, feature-rich, ultra-low power non-volatile
memory products, today announced that it intends to offer and sell
shares of its common stock, subject to market and other conditions,
in an underwritten public offering. All shares in the
offering are to be issued and sold by Adesto. Adesto intends
to use the net proceeds of the offering for general corporate
purposes.
Needham & Company is acting as sole
book running manager for the offering. The 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.
A shelf registration statement relating to the
shares of common stock offered in the public offering described
above was filed with the Securities and Exchange Commission (“SEC”)
on April 5, 2017 and declared effective by the SEC on May 4,
2017. The common stock may be offered only by means of a
prospectus, including a prospectus supplement that forms a part of
the effective registration statement. A preliminary
prospectus supplement and accompanying base prospectus relating to
the offering will be filed with the SEC and will be available on
the SEC’s website at http://www.sec.gov. Copies of the preliminary
prospectus supplement and accompanying base prospectus relating to
this offering may be obtained from Needham & Company, LLC,
445 Park Avenue, New York, NY 10022, (800) 903-3268.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any offer, solicitation or sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
Forward-Looking StatementsThis
press release contains forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform
Act of 1995 and other federal securities laws. Forward-looking
statements can be identified by words such as: “anticipate,”
“intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,”
“expect,” “strategy,” “future,” “likely,” “may,” “should,” “will”
and similar references to future periods. Any statements
contained herein which do not describe historical facts, including
but not limited to statements regarding the uncertainties related
to whether Adesto will be able to raise capital through the sale of
shares of common stock, expected use of proceeds and final terms of
the proposed offering are forward-looking statements that involve
risks and uncertainties that could cause actual results to differ
materially from those discussed in such forward-looking statements.
Such risks and uncertainties include, among others, the risks
identified in Adesto’s filings with the SEC, including its
Quarterly Report on Form 10-Q for the quarterly period
ended March 31, 2017, filed with the SEC on May
15, 2017, the preliminary prospectus supplement related to the
proposed public offering and subsequent filings with the SEC.
Any of these risks and uncertainties could materially and adversely
affect Adesto’s results of operations, which would, in turn, have a
significant and adverse impact on Adesto’s stock price. Adesto
cautions you not to place undue reliance on any forward-looking
statements, which speak only as of the date they are made. Adesto
undertakes no obligation to update publicly any forward-looking
statements to reflect new information, events or circumstances
after the date they were made or to reflect the occurrence of
unanticipated events.
Company Contact:
David Viera
Director, Corporate Communications
P: 408-419-4844
E: david.viera@adestotech.com
Adesto Technologies Investor Relations:
Shelton Group
Leanne K. Sievers, President
P: 949-836-4276
E: sheltonir@sheltongroup.com
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