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

ME Staff 8-k

7 years ago

NETLIST,INC. (NASDAQ:NLST) Files An 8-K Entry into a Material Definitive AgreementItem 1.01. Entry into a Material Definitive Agreement.

On March20, 2018, Netlist,Inc. (the“Company”) and Silicon Valley Bank (“SVB”) entered into an amendment (“SVB Amendment”) to their Loan and Security Agreement dated October31, 2009 (as amended, the“SVB 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, in order to (i)extend the maturity date of advances under the SVB Credit Agreement from April1, 2018 to March31, 2019 and (ii)revise certain inventory reporting requirements 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 1.01. Financial Statements and Exhibits.

(d)Exhibits

NETLIST INC ExhibitEX-10.1 2 a18-8927_1ex10d1.htm EX-10.1 Exhibit 10.1 AMENDMENT TO LOAN AND SECURITY AGREEMENT THIS AMENDMENT TO LOAN AND SECURITY AGREEMENT (this Amendment) is entered into as of March 20,…To view the full exhibit click here
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.