QuickLogic Corporation Announces Proposed Public Offering of Common Stock

SUNNYVALE, CA--(Marketwired - Mar 20, 2017) - QuickLogic Corporation (NASDAQ: QUIK) ("QUIK" or the "Company"), a developer of ultra-low power programmable sensor processing, embedded FPGA IP, display bridge and programmable logic solutions, today announced that it intends to offer and sell, subject to market and other conditions, $15 million of shares of its common stock in an underwritten registered public offering. In addition, the Company expects to grant the underwriters a 30-day option to purchase up to $2.25 million of additional shares of its common stock to cover over-allotments, if any. All of the shares of the common stock to be sold in the proposed offering will be sold by the Company. The proposed offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the final size or terms of the offering.

The Company intends to use the net proceeds from the proposed offering for working capital, the development of next generation new products and general corporate purposes. The Company 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, the Company currently has no commitments or agreements and is not involved in any negotiations with respect to any such transactions.

Craig-Hallum Capital Group is acting as the sole book-running manager for the proposed offering. The Benchmark Company is acting as a co-manager for the proposed offering.

The proposed offering is being made pursuant to a shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission (the "SEC") on March 16, 2017. A preliminary prospectus supplement and accompanying prospectus related to the proposed offering have been filed with the SEC and may be obtained by visiting EDGAR on the SEC's website at www.sec.gov, or, when available, by contacting Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, by telephone at 612-334-6300, or by email at [e-mail]. The final terms of the proposed offering will be disclosed in a final prospectus supplement to be filed with the SEC.