0001437749-23-006511.txt : 20230314 0001437749-23-006511.hdr.sgml : 20230314 20230314172525 ACCESSION NUMBER: 0001437749-23-006511 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20230310 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20230314 DATE AS OF CHANGE: 20230314 FILER: COMPANY DATA: COMPANY CONFORMED NAME: QUICKLOGIC Corp CENTRAL INDEX KEY: 0000882508 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 770188504 STATE OF INCORPORATION: CA FISCAL YEAR END: 0101 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22671 FILM NUMBER: 23732110 BUSINESS ADDRESS: STREET 1: 2220 LUNDY AVENUE CITY: SAN JOSE STATE: CA ZIP: 95131-1816 BUSINESS PHONE: 4089904010 MAIL ADDRESS: STREET 1: 2220 LUNDY AVENUE CITY: SAN JOSE STATE: CA ZIP: 95131-1816 FORMER COMPANY: FORMER CONFORMED NAME: QUICKLOGIC CORPORATION DATE OF NAME CHANGE: 19970409 8-K 1 quicklo20230314_8k.htm FORM 8-K quicklo20230314_8k.htm
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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): March 10, 2023
 
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)
(I.R.S. Employer Identification
Number)
 
2220 Lundy Avenue, San Jose, CA 95131-1816
(Address of principal executive offices, including zip code)
(408) 990-4000
(Registrant’s telephone number, including area code)
[ ]
(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:
 
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))
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, par value $.001 per share
QUIK
The Nasdaq Capital Market
 
Emerging growth company
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 
 
 
 

 
Item 7.01 Regulation FD Disclosure.
 
In reference to the banking uncertainty highlighted by the recent takeover of Silicon Valley Bank ("SVB") by the Federal Deposit Insurance Corporation ("FDIC"), the Company would like
to emphasize that it does not hold any deposits or securities, or maintain any accounts, at SVB and it does not have any banking relationship with SVB. Furthermore, it is unaware at this
time of any material impact that the closure of SVB will have on any material commercial partners of the Company, including customers and suppliers, but it does not believe that there is
likely to be a material impact on the Company as a result of the closure of SVB.
 
Additionally, on January 20, 2023, the Company detected a ransomware infection affecting a limited number of IT systems. Upon detection of the incident, the Company promptly began an
assessment of all Company IT systems, notified law enforcement, and engaged legal counsel and other incident response professionals. Through counsel, the Company retained a leading
cybersecurity forensics firm to review and investigate the incident. The Company’s investigation and assessment of the incident’s impact is ongoing.
 
The Company has continued its business operations during this incident and successfully restored all of its critical operational data. The Company has also taken steps to further secure its
IT systems. Based on the ongoing investigation and information currently known at this time, the Company believes the incident has not had nor will have a material impact on its business,
operations, ability to serve its customers, or financial results.
 
The Company carries insurance, including cyber insurance, commensurate with its size and the nature of its operations.
 
This information is “furnished” and not “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section. It may only be incorporated by reference in another filing under the Securities Exchange Act of 1934 or the Securities Act of 1933 only if and to the extent such subsequent filing specifically references the information incorporated by reference herein.
 
This Current Report shall not be deemed an admission as to the materiality of any information in this Current Report that is being disclosed pursuant to Regulation FD.Forward Looking Statements
 
This Current Report on Form 8-K includes statements that may constitute “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. The words “believe,” “expect,” and similar expressions, as they relate to the Company, its performance and/or its information technology systems, are intended to identify forward-looking statements. These statements include, but are not limited to, express or implied forward-looking statements relating to the Company’s expectations regarding its business outlook, ability to assess the ransomware attack, and the actual or potential impact of the ransomware attack on the Company’s customers and the Company’s business, operations or financial results. These statements are neither promises nor guarantees but are subject to a variety of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include the ongoing assessment of the ransomware attack, legal, reputational and financial risks resulting from additional cyberattacks, including the ransomware attack, the effectiveness of business continuity plans during the ransomware attack, and the other factors discussed in the Company’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this report or as of the date to which they refer, and the Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.
 
 
 

 
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.
 
   
QuickLogic Corporation
     
     
Date: March 14, 2023
  /s/ Elias Nader
   
Elias Nader
   
Chief Financial Officer and Senior Vice-President, Finance
 
 
EX-99.1 2 ex_488676.htm EXHIBIT 99.1 ex_488676.htm

Exhibit 99.1

 

Item 7.01 Regulation FD Disclosure.

 

In reference to the banking uncertainty highlighted by the recent takeover of Silicon Valley Bank ("SVB") by the Federal Deposit Insurance Corporation ("FDIC"), the Company would like to emphasize that it does not hold any deposits or securities, or maintain any accounts, at SVB and it does not have any banking relationship with SVB. Furthermore, it is unaware at this time of any material impact that the closure of SVB will have on any material commercial partners of the Company, including customers and suppliers, but it does not believe that there is likely to be a material impact on the Company as a result of the closure of SVB.

 

Additionally, on January 20, 2023, the Company detected a ransomware infection affecting a limited number of IT systems. Upon detection of the incident, the Company promptly began an assessment of all Company IT systems, notified law enforcement, and engaged legal counsel and other incident response professionals. Through counsel, the Company retained a leading cybersecurity forensics firm to review and investigate the incident. The Company’s investigation and assessment of the incident’s impact is ongoing.

 

The Company has continued its business operations during this incident and successfully restored all of its critical operational data. The Company has also taken steps to further secure its IT systems. Based on the ongoing investigation and information currently known at this time, the Company believes the incident has not had nor will have a material impact on its business, operations, ability to serve its customers, or financial results.

 

The Company carries insurance, including cyber insurance, commensurate with its size and the nature of its operations.

 


 

This information is “furnished” and not “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section. It may only be incorporated by reference in another filing under the Securities Exchange Act of 1934 or the Securities Act of 1933 only if and to the extent such subsequent filing specifically references the information incorporated by reference herein.

 

This Current Report shall not be deemed an admission as to the materiality of any information in this Current Report that is being disclosed pursuant to Regulation FD, Forward Looking Statements.

 

This Current Report on Form 8-K includes statements that may constitute “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. The words “believe,” “expect,” and similar expressions, as they relate to the Company, its performance and/or its information technology systems, are intended to identify forward-looking statements. These statements include, but are not limited to, express or implied forward-looking statements relating to the Company’s expectations regarding its business outlook, ability to assess the ransomware attack, and the actual or potential impact of the ransomware attack on the Company’s customers and the Company’s business, operations or financial results. These statements are neither promises nor guarantees but are subject to a variety of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include the ongoing assessment of the ransomware attack, legal, reputational and financial risks resulting from additional cyberattacks, including the ransomware attack, the effectiveness of business continuity plans during the ransomware attack, and the other factors discussed in the Company’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this report or as of the date to which they refer, and the Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments, except as required by law.

 

 

 

 

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.

 

 

QuickLogic Corporation

   
   

Date: March 14, 2023

 
 

Elias Nader

 

Chief Financial Officer and Senior Vice-President, Finance

 

 
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