secwatch.observer — SEC 8-K summary
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Issuer:     QUICKLOGIC Corp (QUIK)
CIK:        0000882508
Form:       8-K
Filed at:   2021-09-30T23:59:59+00:00
Accession:  0001437749-21-022938
Event type: other_material
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

QuickLogic raises $1.08M through private placements; Q3 revenue outlook raised to $3.8-3.9M
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- Two long-time investors purchased 198,664 shares at $5.43 each (no discount) for gross proceeds of ~$1.08M.
- Q3 fiscal 2021 revenue expected between $3.8M and $3.9M, moderately above prior guidance of $3.8M ±15%.
- Cash usage for Q3 expected at low end of prior $500K-$700K range, excluding the financing proceeds.
- Proceeds to fund working capital, eFPGA product development, AI and open-source hardware/software initiatives.
- Company targets profitability in early fiscal 2022, citing growing interest in its QORC open-source eFPGA initiative.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/882508/000143774921022938/0001437749-21-022938-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/882508/000143774921022938/quicklo20210929_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-21-022938

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer