QuickLogic to be Acquired for $112M

TL;DR

QuickLogic is being bought for $112M cash, $0.40/share. Deal expected Q2 2025.

AI Summary

QuickLogic Corporation announced on January 3, 2025, that it has entered into a definitive agreement to be acquired by an affiliate of Long-Time Holdings, LLC. The transaction is valued at approximately $112 million, with shareholders expected to receive $0.40 per share in cash. The acquisition is anticipated to close in the second quarter of 2025, subject to customary closing conditions.

Why It Matters

This acquisition by Long-Time Holdings, LLC will result in QuickLogic Corporation becoming a private entity, potentially impacting its future product development and market strategy.

Risk Assessment

Risk Level: medium — The acquisition is subject to customary closing conditions, which introduces a risk that the deal may not be completed.

Key Numbers

• $112M — Transaction Value (Total amount QuickLogic Corporation is being acquired for.)
• $0.40 — Price Per Share (Cash amount each QuickLogic shareholder will receive.)
• Q2 2025 — Expected Closing (Anticipated timeframe for the acquisition to be finalized.)

Key Players & Entities

• QuickLogic Corporation (company) — Company being acquired
• Long-Time Holdings, LLC (company) — Acquiring entity
• $112 million (dollar_amount) — Total transaction value
• $0.40 (dollar_amount) — Price per share
• January 3, 2025 (date) — Date of definitive agreement
• second quarter of 2025 (date) — Expected closing period

FAQ

Filing Documents

• quicklo20250103_8k.htm (8-K) — 30KB
• ex_762324.htm (EX-99.1) — 6KB
• logo.jpg (GRAPHIC) — 12KB
• 0001437749-25-000541.txt ( ) — 186KB
• quik-20250102.xsd (EX-101.SCH) — 3KB
• quik-20250102_def.xml (EX-101.DEF) — 11KB
• quik-20250102_lab.xml (EX-101.LAB) — 15KB
• quik-20250102_pre.xml (EX-101.PRE) — 11KB
• quicklo20250103_8k_htm.xml (XML) — 3KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure On January 7, 2025, QuickLogic Corporation (the "Company") issued a press release announcing its Board of Directors is actively exploring options for its wholly-owned subsidiary, SensiML. Preliminary discussions are underway with potential strategic partners regarding the possible sale of SensiML or its assets. With the increasing interest in applying Artificial Intelligence (AI) and Machine Learning (ML) in edge applications, there are clear opportunities for future growth. However, with the success of its eFPGA Hard IP and ruggedized FPGA business, QuickLogic will focus all of its resources towards leveraging and growing the cornerstones of its core business model. Recent events, including the Company's eFPGA Hard IP design wins with strategic customers, expansion of large government ruggedized FPGA and eFPGA Hard IP contracts, performance improvements of its eFPGA Hard IP products, the change in the eFPGA market competitor landscape and an increase in inbound interest from customers of former eFPGA market competitors has resulted in the Company's plan to focus solely on its programmable logic technology, products, and markets. In furtherance of this strategic focus, the Board of Directors of the Company is exploring options for SensiML, a wholly-owned subsidiary of the Company. As of the date of this Current Report on Form 8-K, QuickLogic is currently in preliminary discussions with certain strategic partners regarding a potential sale of SensiML or its assets. We cannot provide assurance that any of the current discussions will result in a transaction or, if they did, what the ultimate terms of such transaction would be. A strategic transaction cannot be assured and may not materialize. The preliminary discussions are ongoing, and the Board of Directors will continue to evaluate all strategic possibilities consistent with its fiduciary duties. Any decision with respect to a potential transaction remains subject to approval

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press Release of QuickLogic Corporation, dated January 7, 2025 104 Cover Page Interactive Data File - The cover page XBRL tags are embedded within the inline XBRL document. Cautionary Language Regarding Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Company's performance or achievements to be materially different from any expected future results, performance, or achievements. Forward-looking statements speak only as of the date they are made and the Company assumes no duty to update forward looking statements, except as required by law. Actual future results, performance or achievements may differ materially from historical results or those anticipated depending on a variety of factors, some of which are beyond the control of the Company. In addition to these factors, investors should review the "Risk Factors" set forth in QuickLogic's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and Quarterly Report on Form 10-Q for the quarterly period ended September 29, 2024, and other filings with the United States Securities and Exchange Commission, which identify important factors, though not necessarily all such factors, that could cause future outcomes to differ materially from those set forth in the forward-looking statements in this communication. 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: January 7, 2025 QuickLogic Corporation /s/ Elias Nader Elias Nader Chief Financial Officer and Senior Vice-President, Finance (Principal Financial Officer)

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View this 8-K filing on SEC EDGAR