Sujeeva De Silva

- Netlist, Inc. announced a registered direct offering for the purchase and sale of **14,285,716 shares** of its common stock and warrants to purchase up to **28,571,432 shares** of common stock at a combined purchase price of **$0.70 per share** and accompanying warrants.  **[1282631_0001104659-25-097229_tm2528064d2_ex99-1.htm:0]** **[1282631_0001104659-25-097229_tm2528064d2_ex10-2.htm:0]** **[1282631_0001104659-25-097229_tm2528064d2_8k.htm:1]** 
- The offering is expected to generate approximately **$10.0 million** in gross proceeds and **$9.1 million** in net proceeds, which the company intends to use for **general corporate purposes, including working capital**.  **[1282631_0001104659-25-097229_tm2528064d2_ex99-1.htm:0]** **[1282631_0001104659-25-097229_tm2528064d2_8k.htm:1]** 
- The offering is anticipated to close on or about **October 7, 2025**, with Roth Capital Partners serving as the exclusive placement agent.  **[1282631_0001104659-25-097229_tm2528064d2_ex99-1.htm:0]** **[1282631_0001104659-25-097229_tm2528064d2_8k.htm:1]** 
- The warrants issued in this offering will have an exercise price of **$0.70 per share**, be immediately exercisable, and will expire **five years** following the date of issuance.  **[1282631_0001104659-25-097229_tm2528064d2_ex99-1.htm:0]** **[1282631_0001104659-25-097229_tm2528064d2_ex4-1.htm:1]** 
- In connection with the offering, the exercise price of June 2025 Warrants will be reduced to the lesser of **$0.60** and the lowest VWAP of the common stock on any trading day during a specified period.  **[1282631_0001104659-25-097229_tm2528064d2_ex99-1.htm:0]** **[1282631_0001104659-25-097229_tm2528064d2_8k.htm:2]**

NETLIST (NLST)