SAN JOSE, Calif., July 21, 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
("AI") solutions, today announced that it had completed the sale of
141,733 additional shares of common stock pursuant to the partial
exercise of the underwriter's option to purchase additional shares
of common stock for the purpose of covering over-allotments in
connection with the Company's recently announced public offering,
resulting in additional net proceeds to the Company of
approximately $461,341 after
deduction of underwriting discounts.
During the Company's recent public offering, including the
underwriter's partial exercise of its option to purchase additional
shares of common stock for the purpose of covering over-allotments,
the Company raised an aggregate of approximately $8.10 million in net proceeds, after deducting
underwriting discounts and commissions and our expenses related to
the offering. After giving effect to the shares issued in the
offering, the Company now has 11,055,490 shares outstanding.
Oppenheimer & Co. Inc. acted as the sole underwriter for the
Offering.
The Offering was 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. The preliminary prospectus
supplement related to the Offering was filed with the SEC on
June 17, 2020, and the final
prospectus supplement and accompanying prospectus was filed with
the SEC on June 18, 2020.
Copies of the final prospectus supplement and accompanying base
prospectus 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.
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 anticipated closing
of the Offering 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 July 21, 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