SAN JOSE, Calif.--(BUSINESS WIRE)--Aug. 15, 2013--
Pixelworks, Inc. (NASDAQ:PXLW), a pioneer in innovative video and
display processing technology, today announced that it plans to offer
shares of its common stock in a public offering registered with the U.S.
Securities and Exchange Commission. The offering is subject to market
and other conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or terms of
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 preliminary prospectus supplement related to the offering was filed
with the SEC on August 15, 2013. Electronic copies of the preliminary
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