QuickLogic Announces Strategic Investment by Long-Time and New Institutional Investors
QuickLogic Corporation, a developer of ultra-low power multi-core voice-enabled SoCs, embedded FPGA IP, and Endpoint AI solutions, announced current and new institutional investors have purchased, in separate private placement transactions, 310,000 shares, or 2.6 percent of the current shares outstanding, raising proceeds of approximately $1.48 million.
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“We are pleased with the continued financial support we are receiving from both our long-time shareholders and investors who have followed QuickLogic for many years. They understand the tremendous opportunity we have with our Open Source initiatives,” said Brian Faith, President and CEO of QuickLogic. “Following our recent announcement that we would be at or above operating cash breakeven in Q4, these investors again reached out to us wanting to further support our efforts. With our pipeline of business growing, this additional capital adds greater financial resources to quickly execute on our growth and profitability objectives.”
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