QuickLogic Corporation entered into a new $10 million senior secured revolving credit facility with Sunflower Bank, replacing its prior agreement with Heritage Bank of Commerce.
Key takeaways
The Company secured a $10 million revolving credit facility with Sunflower Bank, effective April 27, 2026.
The three-year facility matures on April 24, 2029, replacing a prior agreement with Heritage Bank of Commerce.
Interest accrues at the greater of 5.50% or the Wall Street Journal Prime Rate plus 0.50%.
Proceeds are intended for general corporate purposes, including working capital.
The facility is secured by collateral, including a pledged deposit account, under the Loan and Security Agreement.