QuickLogic Corporation (NASDAQ:QUIK) (“QuickLogic” or the “Company”), a developer of ultra-low power multi-core voice enabled SoCs, embedded FPGA IP, display bridge and programmable logic solutions, today announced the pricing of its previously announced underwritten public offering of 13,513,510 shares of its common stock and corresponding warrants to purchase up to 5,405,404 shares of its common stock. The shares of common stock and corresponding warrants are being sold in combination, with one warrant to purchase 0.4 of a share of common stock for each share of common stock sold. The warrants will have an exercise price of $1.38 per share of common stock and a term of five years, exercisable upon the date of issuance. The aggregate public offering price for each share of common stock and corresponding warrant is $1.15. All securities to be sold in the offering were offered by the Company.

The Company expects to close the offering on or about May 29, 2018, subject to the satisfaction of customary closing conditions. The gross proceeds from this offering are expected to be approximately $15.5 million, assuming none of the corresponding warrants issued in this offering are exercised. The Company intends to use the net proceeds from the 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.

There is no established public trading market for the warrants and the Company does not expect a market to develop. Additionally, the Company does not intend to apply for the listing of the warrants on any national securities exchange or other nationally recognized trading system.

Craig-Hallum Capital Group is acting as the sole book-running manager for the proposed offering. Roth Capital Partners and The Benchmark Company are acting as co-managers for the proposed offering.

A shelf registration statement on Form S-3 (File No. 333-215030) relating to the securities being offered has been declared effective by the Securities and Exchange Commission (“SEC”). This offering may only be made by means of a prospectus supplement and the accompanying prospectus. The preliminary prospectus supplement related to the offering was filed with the SEC on May 23, 2018. The final prospectus supplement and accompanying prospectus will be filed with the SEC and, when available, may be obtained by visiting EDGAR on the SEC’s website at www.sec.gov; or from Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402,