QuickLogic Corporation Announces Full Exercise of Over-Allotment Option Related to Public Offering of Common Stock

QuickLogic Corporation (NASDAQ: QUIK) (“QuickLogic” or the “Company”), a developer of ultra-low power multi-core voice enabled SoCs, embedded FPGA IP, and Endpoint AI solutions, today announced that it had completed the sale of 2,400,000 additional shares of common stock pursuant to the full exercise of the over-allotment option in connection with the Company’s recently announced public offering, resulting in additional net proceeds to the Company of approximately $1.12 million after deduction of underwriting discounts.

During the Company’s recent public offering, including the underwriter’s full exercise of its over-allotment option, the Company raised an aggregate of approximately $8.56 million in net proceeds, after deduction of underwriting discounts.  After giving effect to the shares issued in the offering, the Company now has 115,996,771 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 relating to the Offering was filed with the SEC on June 18, 2019, and the final prospectus supplement and accompanying prospectus was filed with the SEC on June 20, 2019.  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) 667-8055, 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.

SOURCE QuickLogic Corporation