Exhibit 99.1
QuickLogic Announces Proposed Public Offering of
Common Stock
SAN JOSE, Calif., June 18, 2019 /PR Newswire/— QuickLogic Corporation (NASDAQ: QUIK) (“QuickLogic” or the “Company”), a developer ofultra-low power multi-core voice enabled SoCs, embedded FPGA IP, and Endpoint AI solutions, today announced that it intends to offer and sell shares of its common stock in an underwritten public offering (the “Offering”). QuickLogic also expects to grant the underwriter a30-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 the development of the Freedom Aware family of SoC Templates with SiFive, Inc.) 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 FormS-3 (FileNo. 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 relating 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) 667-8055, 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 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 andpre-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 theend-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 the multitude of mobile, wearable, hearable, consumer, industrial, edge and endpoint IoT applications. For more information, visit www.quicklogic.com and https://www.quicklogic.com/blog/.
