8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) June 30, 2014

 

 

QuickLogic Corporation

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   000-22671   77-0188504

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

1277 Orleans Drive, Sunnyvale, CA   94089-1138
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code (408) 990-4000

N/A

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Section 1 – Registrant’s Business and Operations

Item 1.01 Entry into a Material Definitive Agreement.

On June 30, 2014, QuickLogic Corporation (the “Company”) entered into a Third Amended and Restated Loan and Security Agreement (the “Agreement”) with Silicon Valley Bank to extend the Agreement for two years through June 27, 2016. The Agreement provides for committed loan advances of up to $6,000,000, subject to increase at the Company’s election to up to $10,000,000. Under the Agreement, the Company is required to maintain (i) a tangible net worth of at least $15,000,000, (ii) unrestricted cash or cash equivalents in an amount of at least $8,000,000, and (iii) a ratio of quick assets to obligations of at least 2.00 to 1.00, each as tested as of the last day of each month.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the Agreement, a copy of which is attached as Exhibit 10.38 hereto.

Section 9 Financial Statements and Exhibits

Item 9.01(d) Exhibits.

 

10.38    Third Amended and Restated Loan and Security Agreement.

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: July 2, 2014     QuickLogic Corporation
   

/s/ RALPH S. MARIMON

   

Ralph S. Marimon

Vice President Finance and Chief Financial Officer

 

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EXHIBIT INDEX

 

Exhibit
No.

  

Description

10.38    Third Amended and Restated Loan and Security Agreement.

 

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