NETLIST,INC. (NASDAQ:NLST) Files An 8-K Entry into a Material Definitive Agreement

Item1.01. Entry into a Material Definitive Agreement.

On March27, 2017, Netlist,Inc. (theCompany) and Silicon Valley
Bank (SVB) entered into an amendment (SVB Amendment) to their
Loan and Security Agreement dated October31, 2009 (as amended,
theSVB Credit Agreement). to the terms of the SVB Credit
Agreement, the Company is eligible to borrow, in a revolving line
of credit, up to the lesser of (i)80% of its eligible accounts
receivable, or (ii)$5.0million, subject to certain adjustments as
set forth in the SVB Credit Agreement. The SVB Amendment modifies
certain terms of the SVB Credit Agreement, effective as of
January29, 2017, in order to (i)extend the maturity date of
advances under the SVB Credit Agreement to April1, 2018,
(ii)modify the Companys financial covenants under the SVB Credit
Agreement to remove all prior financial standards and replace
them with a liquidity ratio standard, (iii)remove or amend
certain termination, anniversary and unused facility fees payable
by the Company under the SVB Credit Agreement, and (iv)revise
certain administrative procedures for obtaining advances under
the SVB Credit Agreement.

The foregoing is only a brief description of the SVB Credit
Agreement and the SVB Amendment, does not purport to be a
complete description of the rights and obligations of the parties
thereunder and is qualified in its entirety by reference to the
full text of the documents. The SVB Amendment is filed as
Exhibit10.1 to this Current Report on Form8-K and is incorporated
herein by reference.

Item 2.02. Results of Operations and Financial
Condition.

On March29, 2017, the Company issued a press release announcing
its results of operations for the quarter and year ended
December31, 2016. The press release is filed as Exhibit99.1 to
this Current Report on Form8-K and is incorporated herein by
reference.

The information included in this Item 2.02 K, including
Exhibit99.1, shall not be deemed filed for purposes of Section18
of the Securities Exchange Act of 1934, as amended (the Exchange
Act), or incorporated by reference in any filing under the
Securities Act of 1933, as amended, or the Exchange Act, except
as shall be expressly set forth by specific reference in such
filing.

Item9.01. Financial Statements and
Exhibits.

(d)Exhibits

About NETLIST, INC. (NASDAQ:NLST)

Netlist, Inc. designs, manufactures and sells a range of memory subsystems for datacenter, data storage and computing markets. The Company operates in the segment of design and manufacture of memory subsystems for the server, computing and communications markets. The Company’s memory subsystems consist of combinations of dynamic random access memory integrated circuits (DRAM ICs or DRAM), NAND flash memory (NAND flash), application-specific integrated circuits (ASICs) and other components assembled on printed circuit boards (PCBs). The Company primarily markets and sells its products to original equipment manufacturer (OEM) customers, hyper scale datacenter operators and data storage vendors. The Company’s products include NVvault, HyperCloud, and specialty memory modules and flash-based products. NVvault is a memory subsystem that incorporates both DRAM and NAND flash in a single persistent dual-in line memory module (DIMM) solution.

NETLIST, INC. (NASDAQ:NLST) Recent Trading Information

NETLIST, INC. (NASDAQ:NLST) closed its last trading session up +0.010 at 0.930 with 28,376 shares trading hands.