SAN JOSE, Calif.--(BUSINESS WIRE)--Aug. 16, 2013--
Pixelworks, Inc. (NASDAQ:PXLW), a pioneer in innovative video and
display processing technology, today announced details of its previously
announced public offering of common stock. Pixelworks has agreed to sell
2,630,000 shares of its common stock at a price of $3.50 per share, and
has granted the underwriter an option to purchase up to 394,500
additional shares of common stock to cover over-allotments, if any.
Subject to the satisfaction of customary conditions, the offering is
expected to close on or about August 21, 2013.
Roth Capital Partners will act as the sole manager of the offering.
Pixelworks intends to use the net proceeds from the offering for general
corporate purposes, which may include, among other things, increasing
our working capital, financing of ongoing operating expenses and
overhead, and funding of capital expenditures, such as the continued
development of solutions for the multimedia projector, high-end
television, and mobile device markets. Pending the application of the
net proceeds, Pixelworks may invest the proceeds in marketable
securities and short-term investments.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of, the
common stock in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
A copy of the prospectus supplement and prospectus relating to these
securities may be obtained, when available, by contacting Roth Capital
Partners, Attention: Equity Capital Markets, 888 San Clemente Drive,
Newport Beach, CA 92660, by telephone at (800) 678-9147, or by accessing
the SEC’s website, www.sec.gov.
About Pixelworks, Inc.
Pixelworks creates, develops and markets video display processing
technology for digital video applications that demand the very highest
quality images. At design centers around the world, Pixelworks engineers
constantly push video performance to keep manufacturers of consumer
electronics and professional displays worldwide on the leading edge. The
company is headquartered in San Jose, CA.
For more information, please visit the Company's Web site at www.pixelworks.com.
Note: Pixelworks and the Pixelworks logo are registered trademarks of
Pixelworks, Inc. All other trademarks are the property of their
Some of the information in this press release may contain
“forward-looking statements” that are based on current expectations,
estimates, beliefs, assumptions and projections about Pixelworks’
business. Words such as “expects,” “anticipates,” “intends,” “plans,”
“believes,” “seeks,” “estimates” and variations of such words and
similar expressions are intended to identify such forward-looking
statements. These statements are not guarantees of future performance
and involve certain risks and uncertainties that are difficult to
predict and which may cause actual outcomes and results to differ
materially from what is expressed or forecasted in such forward-looking
statements. These forward-looking statements speak only as of the date
on which they are made, and Pixelworks does not undertake any obligation
to update any forward-looking statement to reflect events or
circumstances after the date of this press release. If Pixelworks does
update or correct one or more forward-looking statements, you should not
conclude that Pixelworks will make additional updates or corrections
with respect thereto or with respect to other forward-looking
statements. Except where the context otherwise requires, in this press
release, the “Company,” “Pixelworks,” “we,” “us” and “our” refer to
Pixelworks, Inc., an Oregon corporation, and its wholly-owned
Source: Pixelworks, Inc.
Steven Moore, 408-200-9221