QuickLogic Corporation Announces the Completion of Common Stock Purchase Agreements

QuickLogic Corporation, a Delaware-based technology company, disclosed on December 5, 2024, that it has finalized Common Stock Purchase Agreements with specific institutional investors and their affiliates. The agreement involves the sale of a total of 423,732 shares of common stock at a par value of $0.001, through a registered direct offering, yielding gross proceeds of about $3.25 million. Each share of Common Stock was sold at $7.67, reflecting a 3.0 percent discount based on the 5-day volume weighted average price as of the end of trading on December 4, 2024.

The funds gathered from this transaction will be allocated towards several purposes, including bolstering working capital, advancing the development of upcoming eFPGA-based products, specifically focusing on artificial intelligence (AI) and open-source hardware or software, and catering to general corporate needs. Additionally, a portion of the net proceeds might be directed towards technology acquisition and licensing, as well as potential investments in businesses, although the company currently has no commitments or ongoing negotiations pertaining to such activities.

The offer of Common Stock was made in accordance with a prospectus supplement published on December 11, 2024, along with a base prospectus dated August 26, 2022. These documents are part of a registration statement on Form S-3 (Registration No. 333-266942), which obtained approval from the Securities and Exchange Commission (SEC) on August 26, 2022.

It is important to note that the summary of the Common Stock Purchase Agreements provided above is not exhaustive and is recommended to be reviewed in its entirety by referring to the full text of the Form of Common Stock Purchase Agreement referenced in the filing. Moreover, a legal opinion from The NBD Group, Inc. confirming the legality of the Common Stock issuance and sale in this Financing has been included as Exhibit 5.1 in the documents filed with the SEC.

Subsequent to these announcements, the company disclosed the financial statements and supporting exhibits through various filings. These include the legal opinion of The NBD Group, Inc., a sample Form of Common Stock Purchase Agreement, and the consent of The NBD Group, Inc. embedded within these documents.

### END OF ARTICLE ###

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read QuickLogic’s 8K filing here.

About QuickLogic

QuickLogic Corporation operates as a fabless semiconductor company in the United States. The company offers embedded FPGA intellectual property, low power, multicore semiconductor system-on-chips, discrete FPGAs, and AI software; and end-to-end artificial intelligence/machine learning solution with accurate sensor algorithms using AI technology.