Netlist announces $15M registered direct offering

Netlist has entered into a definitive agreement for the purchase and sale of an aggregate of 13,636,364 shares of its common stock, Series A Warrants to purchase 13,636,364 shares of common stock, and Series B Warrants to purchase 13,636,364 shares of common stock. For each share of common stock purchased, investors will receive a Series A Warrant to purchase up to one share of common stock and a Series B Warrant to purchase up to one share of common stock. The Series A Warrants will have an exercise price of $1.30 per share, be immediately exercisable and will expire five years following the date of issuance. The Series B Warrants will have an exercise price of $1.10 per share, be immediately exercisable and will expire 100 days following the date of issuance. The offering is expected to close on or about October 14, 2024, subject to the satisfaction of customary closing conditions. Roth Capital Partners is acting as the exclusive placement agent for the offering. The gross proceeds from the offering to the Company are expected to be $15M, before deducting placement agent’s fees and other offering expense payable by the Company. The Company intends to use the net proceeds from the offering for general corporate purposes, including working capital.