QuickLogic Prices Public Offering - Quick Facts

(RTTNews) - QuickLogic Corp. (QUIK) announced the pricing of its underwritten public offering of an aggregate of 7.6 million newly issued shares of common stock at a price of $2.90 per share, $0.001 par value.

The company expects to receive gross proceeds of $22.0 million, before deducting underwriting discounts and other estimated offering expenses. The net proceeds to the company are expected to be approximately $20.6 million after deduction of underwriting discounts and assuming no exercise of the underwriters' over-allotment option.

QuickLogic expects to use the net proceeds for working capital and other general corporate purposes. The company said it may also use a portion of the net proceeds for licensing or acquiring intellectual property or technologies to incorporate in its products, capital expenditures, to fund possible investments in and acquisitions of complementary businesses, partnerships, minority investments or to repay debts.

The offering is expected to close on November 15, 2013.