IRVINE, Calif., Feb. 18, 2015 /PRNewswire/ -- Netlist, Inc.
("Netlist" or the "Company") (NASDAQ: NLST), a leading provider of
high performance and hybrid memory solutions for the cloud
computing and storage markets, today announced a proposed
underwritten public offering of its common stock, subject to market
and other conditions. In addition, the Company intends to
grant the underwriter an option to purchase additional shares equal
to up to 15% of the aggregate number of shares to be sold in the
offering.
Netlist intends to use the net proceeds from the offering, if
completed, for general corporate purposes.
Craig-Hallum Capital Group LLC is acting as sole underwriter for
the offering.
The shares are being offered pursuant to an effective shelf
registration statement on Form S-3 that was previously filed with
the Securities and Exchange Commission (SEC). The securities may be
offered only by means of a prospectus. The prospectus and a
preliminary prospectus supplement related to the offering have been
filed with the SEC and are available on the SEC's website located
at http://www.sec.gov and may also be obtained from Craig-Hallum
Capital Group, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, telephone 612-334-6300,
email: prospectus@chlm.com.
The Company also announced that, based on currently available
information, estimated revenues for the fourth quarter ended
December 27, 2014 are expected to be
approximately $2.5 million and that
net loss for the fourth quarter ended December 27, 2014 is expected to be between
$5.0 million and $6.0 million. These
expected results are preliminary, are subject to the completion of
an audit of our December 27, 2014
financial statements, and are not necessarily indicative of the
results to be expected for future periods.
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor may there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Netlist:
Netlist, Inc. designs and manufactures high-performance,
logic-based memory subsystems for server and storage applications
for cloud computing. Netlist's flagship products include
NVvault® and EXPRESSvault™ family of hybrid memory
products that significantly accelerate system performance and
provide mission critical fault tolerance, HyperCloud®, a
patented memory technology that breaks traditional performance
barriers, and a broad portfolio of industrial Flash and specialty
memory subsystems including VLP (very low profile) DIMMs and
Planar-X RDIMMs. Netlist has steadily invested in and grown its
worldwide IP portfolio, which now includes 88 issued and pending
patents in the areas of high performance memory and hybrid memory
technologies.
Netlist develops technology solutions for customer applications
in which high-speed, high-capacity, small form factor and efficient
heat dissipation are key requirements for system memory. These
customers include OEMs and hyperscale datacenter operators that
design and build servers, storage systems and high-performance
computing clusters, engineering workstations and telecommunications
equipment. Founded in 2000, Netlist is headquartered in
Irvine, CA with manufacturing
facilities in Suzhou, People's Republic
of China. Learn more at www.netlist.com.
Safe Harbor Statement:
This news release contains forward-looking statements regarding
future events and the future performance of Netlist. These
forward-looking statements involve risks and uncertainties that
could cause actual results to differ materially from those expected
or projected. These risks and uncertainties include, but are not
limited to, risks associated with the launch and commercial success
of our products, programs and technologies; the success of product
partnerships; continuing development, qualification and volume
production of EXPRESSvault™, NVvault™, HyperCloud® and
VLP Planar-X RDIMM; the timing and magnitude of the anticipated
decrease in sales to our key customer; our ability to leverage our
NVvault™ technology in a more diverse customer base; the
rapidly-changing nature of technology; risks associated with
intellectual property, including patent infringement litigation
against us as well as the costs and unpredictability of litigation
over infringement of our intellectual property and the possibility
of our patents being reexamined by the United States Patent and
Trademark office; volatility in the pricing of DRAM ICs and NAND;
changes in and uncertainty of customer acceptance of, and demand
for, our existing products and products under development,
including uncertainty of and/or delays in product orders and
product qualifications; delays in the Company's and its customers'
product releases and development; introductions of new products by
competitors; changes in end-user demand for technology solutions;
the Company's ability to attract and retain skilled personnel; the
Company's reliance on suppliers of critical components and vendors
in the supply chain; fluctuations in the market price of critical
components; evolving industry standards; and the political and
regulatory environment in the People's
Republic of China. Other risks and uncertainties are
described in the Company's annual report on Form 10-K filed on
March 18, 2014, and subsequent
filings with the U.S. Securities and Exchange Commission made by
the Company from time to time. Except as required by law, Netlist
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Company Contact:
|
Brainerd Communicators, Inc.
|
Gail M. Sasaki
|
Mike Smargiassi/ Jenny Perales
(investors)
|
Chief Financial Officer
|
Sharon Oh (media)
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(949) 435-0025
|
NLST@braincomm.com
|
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(212) 986-6667
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SOURCE Netlist, Inc.