Proceeds to be used for working capital, corporate purposes
By Wendy Van Sickle
Columbus, Ohio, March 16 – QuickLogic Corp. priced its public offering of 10 million shares of common stock at $1.00 each for proceeds of $10 million, according to a press release.
The price per share is a 4.76% discount to the company's closing share price on March 15.
The underwriters of the offering will have a 30-day option to purchase up to 1.5 million additional ordinary shares.
Roth Capital Partners is the bookrunner.
Proceeds will be used for working capital and general corporate purposes.
Sunnyvale, Calif.-based QuickLogic develops low-power programmable semiconductor solutions for mobile and portable electronics original equipment manufacturers and original design manufacturers.
| Issuer: | QuickLogic Corp.
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| Issue: | Common stock
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| Amount: | $10 million
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| Greenshoe: | $1.5 million
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| Shares: | 10 million
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| Price: | $1.00
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| Warrants: | No
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| Bookrunner: | Roth Capital Partners
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| Co-manager: | Benchmark Co
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| Pricing date: | March 16
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| Settlement date: | March 21
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| Stock symbol: | Nasdaq: QUIK
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| Stock price: | $1.05 at close March 15
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| Market capitalization: | $58.24 million
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