Replies to post #29643 on NetList Inc (NLST)

[gdog]

Form 8 k just came out after hours
you may have inadvertently hit the nail on the head read the bold... are the new board members getting a chance to buy at .70 ?????

Item 1.01. Entry into a Material Definitive Agreement.



On June 24, 2025, Netlist, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain investors, including Chun K. Hong, the Company’s Chairman of the Board, President and Chief Executive Officer (collectively, the “Purchasers”), pursuant to which the Company agreed to issue and sell to the Purchasers in a registered offering (the “Offering”) an aggregate of (i) 17,142,860 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), and (ii) Common Stock Purchase Warrants (the “Warrants”) to purchase up to an aggregate of 34,285,720 shares of Common Stock (the “Warrant Shares”) at a combined purchase price of $0.70 per Share and accompanying Warrant, for aggregate gross proceeds of approximately $12.0 million and expected net proceeds, after deducting placement agent fees and offering costs, of approximately $11.3 million. Mr. Hong agreed to purchase $3.0 million of Shares and accompanying Warrants in the Offering. The Company expects that the Offering will close on or about June 25, 2025, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from the Offering for working capital and other general corporate purposes.


The Offering was approved by the disinterested directors of the Company pursuant to applicable law and the Company’s related party transaction policy