Netlist, Inc. (NLST) Raises $15 Million In Credit Financing
Netlist, Inc. (NASDAQ:NLST) is a Irvine, California based company that develops memory chips for the cloud computing and storage market. The company announced on Thursday that they have raised $15 million in credit financing.
The credit financing was provided by Fortress Investment Group. Netlist will be using the funding to support the ongoing development of their product and patent portfolio. Netlist and Fortress said that they will be focusing the investment on bolstering their intellectual property and patent assets. They will also find ways to capitalize on those patents.
Netlist currently has 36 issued patents and over 35 U.S. and foreign pending patent applications. The patents cover high density memory subsystems and hybrid memory. Netlist has been in and out of court regarding patent litigation. One of the most recent cases was when Netlist prevailed in a lawsuit against Smart Modular regarding a preliminary injunction against Netlist’s HyerCloud product.