QuickLogic: No SVB exposure; ransomware incident on Jan 20 with no material impact

QUICKLOGIC Corp

QuickLogic has no deposits or accounts at SVB and no banking relationship with SVB.
On Jan 20, 2023, QuickLogic detected a ransomware infection affecting a limited number of IT systems.
Company engaged law enforcement, legal counsel, and a cybersecurity forensics firm; investigation ongoing.
Critical operational data restored; business operations continued; steps taken to further secure IT systems.
QuickLogic believes the incident has not had and will not have a material impact on business or financial results; cyber insurance in place.

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