Netlist raises $10 million through registered direct offering

Netlist Inc. (OTCQB: NLST) entered into a definitive agreement to sell 14,285,716 shares of common stock and accompanying warrants in a registered direct offering priced at $0.70 per share.

The memory and storage solutions company expects to receive approximately $10 million in gross proceeds from the offering, which is scheduled to close on or about October 7, 2025. Each share purchased includes a warrant to buy up to two additional shares at $0.70 per share, with the warrants exercisable immediately and expiring five years from issuance.

Roth Capital Partners serves as the exclusive placement agent for the transaction. Netlist plans to use net proceeds for general corporate purposes, including working capital.

In connection with the offering, Netlist modified terms of warrants issued in June 2025. The company agreed to reduce the exercise price of those warrants to the lesser of $0.60 or the lowest volume-weighted average price during a specified trading period beginning October 6, 2025.

The offering operates under a shelf registration statement on Form S-3 that the Securities and Exchange Commission declared effective on August 14, 2024. The prospectus supplement and accompanying prospectus will be filed with the SEC and made available on the agency's website.

Netlist develops memory and storage solutions with what the company describes as patented technologies for AI computing applications.

You May Also Be Interested In

• Hertz cuts guidance, announces notes and stock offerings, shares sink
• Hertz proposes $100M common stock offering via share lending deal
• Ambiq prices upsized public offering at $78 per share