Semiconductor company QuickLogic entered into a seventh amendment to its amended and restated credit facility, dated as of Dec. 21, 2018, to increase the line of credit and extend the maturity date. According to an 8K filed with the SEC, the credit agreement is with Heritage Bank of Commerce.
The seventh amendment increases the credit facility from $15 million to $20 million and extends the maturity date from Dec. 31, 2024, to Dec. 31, 2025.
“We are pleased to be able to increase our commitment to QuickLogic and have greatly appreciated our long-term partnership with the company,” Mike Hansen, senior vice president of Heritage Bank, said.
“We are pleased to have the continued support of Heritage Bank,” Elias Nader, CFO of QuickLogic, said. “Increasing our credit facility provides us with enhanced operational flexibility for our business needs while recognizing our solid financial results and improving business outlook.”
