SAN JOSE, Calif., June 17,
2020 /PRNewswire/ -- QuickLogic Corporation (NASDAQ:
QUIK) ("QuickLogic" or the "Company"), a developer of
ultra-low-power multi-core voice-enabled system-on-chips ("SoCs"),
embedded FPGA, intellectual property, Internet of Things ("IoT"),
and endpoint artificial intelligence solutions, today announced
that it intends to offer and sell shares of its common stock in an
underwritten registered public offering (the "Offering").
QuickLogic also expects to grant the underwriter a 30-day option to
purchase additional shares of common stock offered in the public
market. The 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
Offering for working capital, the development of next
generation new products, including AI and open source hardware or
software, 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.
Oppenheimer & Co. Inc. is acting as the sole underwriter for
the Offering.
The Offering is being made pursuant to a shelf registration
statement on Form S-3 (File No. 333-230352) that was declared
effective by the Securities and Exchange Commission (the "SEC") on
March 29, 2019. A preliminary
prospectus supplement and accompanying prospectus related to the
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 Oppenheimer & Co. Inc., Attention: Syndicate
Prospectus Department, 85 Broad Street, 26th Floor,
New York, NY, 10004, by
telephone at (212) 667-8563, or by email at
EquityProspectus@opco.com. The final terms of the 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 the
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 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 an
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 the Company's 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 regarding our future business
expectations, which are subject to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. These include
statements regarding, but not limited to, the intention to offer
the securities and the expected uses of the proceeds from the
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 these and other potential factors and uncertainties that
could cause actual results to differ from the results predicted,
including those described in more detail in the Company's public
reports filed with the SEC, including the risks discussed in the
"Risk Factors" section in the Company's Annual Reports on Form
10-K, Quarterly Reports on Form 10-Q and in the Company's prior
press releases, which are available on the Company's Investor
Relations website at http://ir.quicklogic.com/ and on the SEC's
website at www.sec.gov. In addition, please note that the date of
this press release is June 17, 2020,
and any forward-looking statements contained herein are based on
assumptions that we believe to be reasonable as of this date. We
undertake no obligation to update these statements as a result of
new information or future events.
ArcticLink, QuickLogic and the QuickLogic logo are registered
trademarks and EOS and ArcticPro are trademarks of QuickLogic
Corporation. All other brands or trademarks are the property of
their respective holders and should be treated as such.
CODE: QUIK-E
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SOURCE QuickLogic Corporation