QuickLogic Secures $10M Three-Year Revolving Credit Facility From Sunflower Bank
QuickLogic has secured a $10 million, three-year revolving credit facility from Sunflower Bank, replacing its previous Heritage Bank of Commerce agreement and maturing April 24, 2029. The funding bolsters liquidity to support its eFPGA licensing expansion, strategic rad-hardened FPGA development and storefront growth.
1. Credit Facility Details
QuickLogic entered into a new senior secured revolving credit facility with Sunflower Bank on April 27, 2026, replacing the prior agreement with Heritage Bank of Commerce. The $10 million facility matures on April 24, 2029, and is available for general corporate purposes including working capital.
2. Strategic Growth Support
The company plans to deploy the credit line to accelerate its strategic initiatives such as expanding eFPGA Hard IP licensing across additional process technologies, advancing its radiation-hardened FPGA development for government contracts, and supplementing its Storefront programmable logic offerings.
3. Financial Flexibility Impact
By securing this three-year credit line, QuickLogic enhances its financial foundation and operational flexibility, ensuring access to liquidity that supports ongoing R&D investments and potential market expansion without immediate equity dilution.