Netlist, Inc. Announces Pricing of 7,548,500 Share Follow-On Offering

Netlist, Inc. Announces Pricing of 7,548,500 Share Follow-On Offering 
IRVINE, CA -- (Marketwired) -- 02/06/14 --  Netlist, Inc. ("Netlist"
or the "Company") (NASDAQ: NLST), a leading provider of high
performance and hybrid memory solutions for the cloud computing and
storage markets, today announced it has priced a registered firm
commitment underwritten public offering of 7,548,500 shares of its
common stock at a price to public of $1.30 per share. Additionally,
the Company has granted the underwriter the option to purchase up to
an additional 1,132,275 shares of its common stock to cover
over-allotments, if any, at the price to public. The offering is
expected to close on or about February 11, 2014, subject to
satisfaction of closing conditions. 
The total gross proceeds of the offering are expected to be
approximately $9.8 million. After deducting the underwriter's
discount and other estimated offering expenses payable by Netlist,
the net proceeds are expected to be approximately $8.9 million. These
amounts assume no exercise of the underwriter's over-allotment
option. The Company intends to use the net proceeds of the offering
for general corporate purposes.  
Craig-Hallum Capital Group LLC is acting as sole underwriter of the
offering. 
A registration statement relating to shares of the common stock of
Netlist has been declared effective by the Securities and Exchange
Commission on October 18, 2011. This offering is being made by
Netlist by means of a written prospectus supplement forming part of
the effective registration statement. A copy of the final prospectus
for the offering may be obtained from Craig-Hallum Capital Group LLC
at 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, phone
number (612) 334-6300.  
This press release shall not constitute an offer to sell, or the
solicitation of an offer to buy, nor may there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. 
About Netlist:
 Netlist, Inc. designs and manufactures
high-performance, logic-based memory subsystems for server and
storage applications for cloud computing. Netlist's flagship products
include HyperCloud(R), a patented memory technology that breaks
traditional performance barriers, NVvault(TM) and EXPRESSvault(TM),
the pioneering family of hybrid memory products utilizing both DRAM
and NAND Flash that significantly accelerates system performance and
provides mission critical fault tolerance, and a broad portfolio of
industrial flash and specialty memory subsystems including VLP (very
low profile) DIMMs and Planar-X RDIMMs. Netlist has steadily invested
in and grown its IP portfolio, which now includes 41 issued patents
and more than 29 US and foreign pending patent applications in the
areas of high performance memory and hybrid memory technologies. 
Netlist develops technology solutions for customer applications in
which high-speed, high-capacity, small form factor and efficient heat
dissipation are key requirements for system memory. These customers
include OEMs that design and build tower, rack-mounted, and blade
servers, storage hardware, high-performance computing clusters,
engineering workstations and telecommunications equipment. Founded in
2000, Netlist is headquartered in Irvine, CA with manufacturing
facilities in Suzhou, People's Republic of China. Learn more at
www.netlist.com. 
Company Contact: 
Gail M. Sasaki 
Chief Financial Officer 
(949) 435-0025  
Brainerd Communicators, Inc. 
Corey Kinger/Mike Smargiassi (investors) 
Sharon Oh (media) 
NLST@braincomm.com
(212) 986-6667 
 
 
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