Netlist (NLST) Announces $15M Common Stock Offering

September 7, 2016 4:09 PM EDT

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Netlist, Inc. (NASDAQ: NLST), a leading provider of high performance and hybrid memory solutions for the cloud computing and storage markets, today announced a proposed $15 million underwritten public offering of its common stock, subject to market and other conditions. In addition, the Company intends to grant the underwriters 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, to accelerate its patent monetization campaign, to commercialize its HybriDIMM products and for general corporate purposes. B. Riley & Co., LLC and Craig-Hallum Capital Group LLC are acting as joint bookrunners for the offering, and The Benchmark Company is acting as the co-manager 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 B. Riley & Co., LLC, 11100 Santa Monica Blvd., Suite 800, Los Angeles, California 90025, or by telephone at (888) 295-0155, or by email at capitalmarkets@brileyco.com, or from Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, telephone 612-334-6300, email: prospectus@chlm.com.

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.



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