Netlist enters $17.4M equity purchase agreement with Lincoln Park Capital

NETLIST INC

On July 12, 2021, Netlist signed a Purchase Agreement with Lincoln Park Capital for up to $17.4 million in common stock sales over 36 months.
As initial fee, Netlist issued 80,000 commitment shares at $5.98 per share; up to 120,500 additional shares may be issued on pro rata basis.
Regular purchases limited to 750,000 shares or $2.5 million per day; accelerated purchases at 97% of VWAP or closing price.
Netlist has unconditional right to terminate agreement with one business day notice; Lincoln Park prohibits short-selling or hedging.
Agreement restricts Netlist from entering variable rate transactions for up to 36 months after termination.

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