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QuickLogic Announces the Amendment and Extension of Credit Facility
QuickLogic Corporation (NASDAQ: QUIK) ("QuickLogic" or the "Company"), a leading provider of embedded FPGA (eFPGA) Hard IP, and ruggedized FPGAs, today announced that, effective March 17, 2025, it entered into an eighth amendment (the "Eighth Amendment") to its amended and restated credit facility, dated as of December 21, 2018 (as amended, the "Credit Agreement") to maintain the line of credit and extend the maturity date.
About this update from Quicklogic Corporation
[{"type":"text","content":"SAN JOSE, Calif., March 20, 2025 /PRNewswire/ -- QuickLogic Corporation (NASDAQ: QUIK) ("QuickLogic" or the "Company"), a leading provider of embedded FPGA (eFPGA) Hard IP, and ruggedized FPGAs, today announced that, effective March 17, 2025, it entered into an eighth amendment (the "Eighth Amendment") to its amended and restated credit facility, dated as of December 21, 2018 (as amended, the "Credit Agreement") to maintain the line of credit and extend the maturity date.","length":521,"tagName":"p"},{"type":"image","alt":"QuickLogic logo (PRNewsfoto/QuickLogic Corporation)","displaySize":"","headline":null,"caption":"QuickLogic logo (PRNewsfoto/QuickLogic Corporation)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":77,"url":"https://media.zenfs.com/en/prnewswire.com/b58d5dea79e6518aa686b00496935a41"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/aMQtILnEqvgZpy5F3VIpMw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTEzNjtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/b58d5dea79e6518aa686b00496935a41","width":400,"height":77}},"href":"https://mma.prnewswire.com/media/643697/QuickLogic_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The Eighth Amendment maintains the credit facility of $20M and extends the maturity date from December 31, 2025 to December 31, 2026.","length":133,"tagName":"p"},{"type":"text","content":""We are pleased to have the continued support of Heritage Bank," said Chief Financial Officer, Elias Nader. "Extending our credit facility provides us with enhanced operational flexibility as we continue execution on our large government contract, new eFPGA IP Licenses, and Storefront business while recognizing our solid results and improving business outlook."","length":383,"tagName":"p"},{"type":"text","content":"Additional details on the terms of the amendment are available in the 8-K filed with the Securities and Exchange Commission on March 20, 2025.","length":142,"tagName":"p"},{"type":"text","content":"About QuickLogic","length":16,"tagName":"p"},{"type":"text","content":"QuickLogic Corporation is a fabless semiconductor company specializing in eFPGA Hard IP, discrete FPGAs, and endpoint AI solutions. QuickLogic's unique approach combines cutting-edge technology with open-source t...