Netlist Announces Pricing of 7,548,500 Share Follow-On Offering

Netlist, Inc. announced it has priced a registered firm commitment underwritten public offering of 7,548,500 shares of its common stock at a price to public of $1.30 per share.

Additionally, the company has granted the underwriter the option to purchase up to an additional 1,132,275 shares of its common stock to cover over-allotments, if any, at the price to public. The offering is expected to close on or about February 11, 2014, subject to satisfaction of closing conditions.

The total gross proceeds of the offering are expected to be approximately $9.8 million. After deducting the underwriter’s discount and other estimated offering expenses payable by Netlist, the net proceeds are expected to be approximately $8.9 million. These amounts assume no exercise of the underwriter’s over-allotment option. The company intends to use the net proceeds of the offering for general corporate purposes.

Craig-Hallum Capital Group LLC is acting as sole underwriter of the offering.