QuickLogic Corporation Announces $6.24 Million Registered Direct Offering

SUNNYVALE, Calif., Nov 17, 2009 (BUSINESS WIRE) --
QUIK | Quote | Chart | News | PowerRating -- QuickLogic Corporation (NASDAQ:QUIK), the lowest power programmable
semiconductor solutions leader, today announced that it has entered into
definitive agreements with a select group of institutional investors to
sell an aggregate of 4,305,929 shares of common stock and warrants to
purchase up to an aggregate of 3,229,446 shares of common stock in a
registered direct offering. The common stock and warrants will be sold
in units (the "Units"), with each Unit consisting of (i) one share of
common stock and (ii) a warrant to purchase 0.75 of a share of common
stock, at a negotiated purchase price of $1.45 per Unit. The Company
expects to receive gross proceeds from the offering of approximately
$6.24 million, before deducting placement agent's fees and estimated
offering expenses. The Company's costs in connection with the offering
are expected to be approximately $0.7 million. The Warrants are
exercisable any time after the six month anniversary of the date of
issuance until the 66 month anniversary of the date of issuance, and
will be exercisable at a price of $2.15 per share.

The transaction is expected to close on or about November 20, 2009,
subject to the satisfaction of customary closing conditions. The Company
intends to use the net proceeds from the sale of the Units pursuant to
this offering for general corporate purposes, including without
limitation, sales and marketing activities, research and development,
capital expenditures and working capital.

All of the shares of common stock, the warrants to purchase shares of
common stock and the shares of common stock issuable upon exercise of
the warrants are being offered by QuickLogic Corporation pursuant to a
shelf registration statement previously filed with the Securities and
Exchange Commission (the "SEC"), which was declared effective by the SEC
on September 2, 2009, as supplemented by a prospectus supplement dated
November 17, 2009 filed with the Securities and Exchange Commission
pursuant to Rule 424(b) under the Securities Act of 1933, as amended.

Needham & Company, LLC served as the exclusive placement agent for the
offering. The Units may only be offered by means of a prospectus. Copies
of the final prospectus supplement and accompanying base prospectus can
be obtained at the SEC's website at http://www.sec.gov
or by writing or calling the Company at 1277 Orleans Drive, Sunnyvale,
California 94089-1138, Attention: Ralph Marimon, Chief Financial
Officer, (408) 990-4000.

This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities in this offering. There
shall not be any sale of these securities in any state or jurisdiction
in which such offering, sale or solicitation would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.

About QuickLogic

QuickLogic Corporation (NASDAQ;QUIK) is the inventor and pioneer of
innovative, customizable semiconductor solutions for mobile and portable
electronics original equipment manufacturers (OEMs) and original design
manufacturers (ODMs). These silicon plus software solutions are called
Customer Specific Standard Products (CSSPs). CSSPs enable our customers
to bring their products to market more quickly and remain in the market
longer, with the low power, cost and size demanded by the mobile and
portable electronics market. For more information about QuickLogic and
CSSPs, visit www.quicklogic.com.
Code: QUIK-G

Safe Harbor Statement Under the Private Securities Litigation Reform
Act of 1995

Statements made in this press release may be forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, regarding, but not limited to, the proceeds the Company expects
to receive from the offering, the closing of the offering and the use of
the net proceeds from the offering. Forward-looking statements can be
identified by the use of words such as "may," "will," "plan," "should,"
"expect," "anticipate," "estimate," "continue," or comparable
terminology. Such forward-looking statements are inherently subject to
certain risks, trends and uncertainties, many of which the Company
cannot predict with accuracy and some of which the Company might not
even anticipate, and involve factors that may cause actual results to
differ materially from those projected or suggested. Readers are
cautioned not to place undue reliance on these forward-looking
statements and are advised to consider the factors listed above together
with the additional factors under the heading "Disclosure Regarding
Forward-Looking Statements" and "Risk Factors" in the Company's Annual
Reports on Form 10-K, as may be supplemented or amended by the Company's
Quarterly Reports on Form 10-Q. The Company assumes no obligation to
update or supplement forward-looking statements that become untrue
because of subsequent events, new information or otherwise.

QuickLogic is a registered trademark and the QuickLogic logo is a
trademark of QuickLogic Corporation.

SOURCE: QuickLogic Corporation

QuickLogic Corporation 
Ralph S. Marimon, 408-990-4000 
Vice President of Finance 
Chief Financial Officer 
rsmarimon@quicklogic.com 
Andrea Vedanayagam, 408-990-4000 
Director, Corporate Communications 
andrea@quicklogic.com

For full details on Quicklogic Corporation (QUIK) QUIK. Quicklogic Corporation (QUIK) has Short Term PowerRatings at TradingMarkets. Details on Quicklogic Corporation (QUIK) Short Term PowerRatings is available at This Link.