Fenwick Represents Netlist in its Five-Year Agreement with Samsung

Fenwick represented Netlist (OTCM: NLST), a company that designs and manufactures modular memory subsystems, in its five-year patent cross-licensing, supply, equity investment, and settlement agreement with Samsung Electronics (KRX: 005930).

Under the terms of the agreement, Samsung will pay Netlist an upfront licensing fee of $239 million plus quarterly royalties of up to $32.9 million through the second quarter of 2031. Netlist will have the right to purchase up to $300 million of DRAM and NAND memory products from Samsung each year during the term of the agreement, and Samsung will purchase 10 million shares of Netlist common stock for $1 million, with a five-year lock-up. Samsung will receive access to Netlist’s full patent portfolio for the term of the agreement, and the two companies have entered into a settlement agreement resolving all pending legal proceedings. Additional information can be found in Netlist’s press release.

The Fenwick team was led by technology transactions partner Rufus Pichler.