QUICKLOGIC Corp 8-K

What Happened

• QuickLogic Corporation announced on April 24, 2026 that it entered into a Loan and Security Agreement and a Promissory Note with Sunflower Bank, N.A., establishing a $10.0 million secured revolving credit facility. The facility matures on April 24, 2029 and is secured by a first-priority lien on substantially all of the company’s assets. The Company filed the 8-K disclosing the agreement on April 29, 2026 and issued a press release the same day.

Key Details

• Facility size: $10.0 million revolving credit facility; maturity date April 24, 2029.
• Interest: greater of (i) 5.50% or (ii) Prime Rate plus 0.50%.
• Fees & costs: annual facility fee of $30,000, plus interest on outstanding borrowings.
• Covenants & security: customary affirmative/negative covenants (limits on additional debt, liens, asset dispositions, certain investments/acquisitions) and a liquidity covenant requiring at least seven months of Remaining Months’ Liquidity; customary events of default; facility secured by substantially all company assets.

Why It Matters

• This financing provides QuickLogic with a committed source of liquidity to support working capital and general corporate needs through 2029, which may help manage cash flow and fund operations.
• Because the facility is secured by substantially all assets and contains covenants (including a minimum liquidity requirement), it could limit the company’s flexibility to take on additional secured debt or make certain transactions if covenant thresholds are not met.
• The interest rate structure (a 5.50% floor or Prime + 0.50%) and the annual fee mean a baseline cost of borrowing that investors should consider when assessing debt costs and cash-flow impact.

(QuickLogic filed the 8-K on April 29, 2026; the credit agreement and promissory note are attached to that filing.)