QuickLogic increases revolving credit line to USD 15m

QuickLogic Corporation (NASDAQ: QUIK), a developer of ultra-low power multi-core voice enabled SoCs, embedded FPGA (eFPGA) IP, display bridge, programmable logic solutions and Endpoint AI solutions, amended its Loan and Security Agreement with Heritage Bank of Commerce on December 21, 2018, the company said.

The amendment increased the revolving line of credit from USD 9 million to USD 15 million.

The increased credit facility will be used by QuickLogic for general corporate purposes, including working capital. The credit agreement runs through September 28, 2020. Terms and Conditions can be found in the Form 8-K to be filed by QuickLogic with the SEC on December 28, 2018.

QuickLogic enables OEMs to maximize battery life for highly differentiated, immersive user experiences with Smartphone, Wearable, Hearable and IoT devices. QuickLogic delivers these benefits through industry ultra-low power customer programmable SoC semiconductor solutions, embedded software, and algorithm solutions for always-on voice and sensor processing. The company´s embedded FPGA initiative also enables SoC designers to easily implement post production changes and increase revenue by providing hardware programmability to their end customers. For more information about QuickLogic, visit www.quicklogic.com.