QuickLogic Corp Enters Material Definitive Agreement

TL;DR

QuickLogic just signed a big deal, filing an 8-K on Dec 5th.

AI Summary

On December 5, 2024, QuickLogic Corporation entered into a Material Definitive Agreement. The filing also includes financial statements and exhibits related to this agreement. The company is incorporated in Delaware and headquartered at 2220 Lundy Avenue, San Jose, CA.

Why It Matters

This filing indicates a significant new agreement for QuickLogic Corporation, which could impact its future financial performance and strategic direction.

Risk Assessment

Risk Level: medium — Entering into a material definitive agreement can introduce new risks and opportunities that are not yet fully understood.

Key Numbers

• 000-22671 — Commission File Number (SEC file number for QuickLogic Corporation)
• 77-0188504 — IRS Employer Identification No. (Tax identification number for QuickLogic Corporation)

Key Players & Entities

• QuickLogic Corporation (company) — Registrant
• December 5, 2024 (date) — Date of earliest event reported
• 2220 Lundy Avenue, San Jose, CA 95131-1816 (address) — Principal executive offices
• Delaware (jurisdiction) — State of incorporation

FAQ

Key Financial Figures

• $0.001 — 3,732 shares of common stock, par value $0.001 (the "Common Stock"), in a registered d
• $3.25 million — lted in gross proceeds of approximately $3.25 million (the "Financing"). The purchase price f
• $7.67 — re of Common Stock in the Financing was $7.67. The per share purchase price reflects

Filing Documents

• quicklo20241210_8k.htm (8-K) — 29KB
• ex_755552.htm (EX-5.1) — 10KB
• ex_755553.htm (EX-10.1) — 174KB
• 0001437749-24-037163.txt ( ) — 384KB
• quik-20241205.xsd (EX-101.SCH) — 3KB
• quik-20241205_def.xml (EX-101.DEF) — 11KB
• quik-20241205_lab.xml (EX-101.LAB) — 15KB
• quik-20241205_pre.xml (EX-101.PRE) — 11KB
• quicklo20241210_8k_htm.xml (XML) — 3KB

01 Entry Into a Material Definitive Agreement

Item 1.01 Entry Into a Material Definitive Agreement. On December 5, 2024, QuickLogic Corporation (the "Company") entered into Common Stock Purchase Agreements with certain institutional investors and their affiliated entities for the sale of an aggregate of 423,732 shares of common stock, par value $0.001 (the "Common Stock"), in a registered direct offering. These share placements resulted in gross proceeds of approximately $3.25 million (the "Financing"). The purchase price for each share of Common Stock in the Financing was $7.67. The per share purchase price reflects a 3.0 percent discount based upon the 5-day volume weighted average price as of the close of trading on December 4, 2024. The Company currently intends to use the net proceeds from the Financing for working capital, the development of next generation eFPGA-based products, including AI and open-source hardware or software, and general corporate purposes. We 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, we currently have no commitments or agreements and are not involved in any negotiations with respect to any such transactions. The Common Stock is being offered pursuant to a prospectus supplement dated December 11, 2024, and a base prospectus dated August 26, 2022, which is part of a registration statement on Form S-3 (Registration No. 333-266942) that was declared effective by the Securities and Exchange Commission (the "SEC") on August 26, 2022. The foregoing description of the Common Stock Purchase Agreements does not purport to be complete and is qualified in its entirety by reference to the full text of the Form of Common Stock Purchase Agreement incorporated herein by reference. A copy of the opinion of The NBD Group, Inc. relating to the legality of the issuance and sale of the Common Stock in this Financing is attached as Exhibit 5.1 hereto.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description * 5.1 Legal Opinion of The NBD Group, Inc. * 10.1 Form of Common Stock Purchase Agreement. * 23.1 Consent of The NBD Group, Inc. (included in Exhibit 5.1). 104 Cover Page Interactive Data File - The cover page XBRL tags are embedded within the inline XBRL document. * Filed herewith. 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: December 11, 2024 QuickLogic Corporation /s/ Elias Nader Elias Nader Chief Financial Officer and Senior Vice-President, Finance (Principal Financial Officer)

View Full Filing

View this 8-K filing on SEC EDGAR