Exhibit 99.2
QuickLogic Announces Pricing of $8.0 Million
Public Offering of Common Stock
SAN JOSE, Calif., June 19, 2019 /PR Newswire/—QuickLogic Corporation (NASDAQ: QUIK) (“QuickLogic” or the “Company”), a developerof ultra-low power multi-core voice enabled SoCs, embedded FPGA IP, and Endpoint AI solutions, today announced the pricing of its previously announced underwritten public offering of 16,000,000 shares of its common stock at a public offering price of $0.50 per share (the “Offering”). QuickLogic expects the gross proceeds from the Offering to be approximately $8.0 million, before deducting the underwriting discount and other estimated offering expenses. QuickLogic has also granted the underwriter a30-day option to purchase additional shares of common stock offered in the public market. The Company expects to close the Offering on or about June 21, 2019, subject to the satisfaction of customary closing conditions.
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. The Offering may only be made by means of a prospectus supplement and the accompanying prospectus. The preliminary prospectus supplement relating to the Offering was filed with the SEC on June 18, 2019. The final prospectus supplement and accompanying prospectus will be filed with the SEC and, when available, 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.
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/.
