PORTLAND, Ore.--(BUSINESS WIRE)--May. 13, 2009--
Pixelworks, Inc. (NASDAQ: PXLW), an innovative provider of powerful
video and pixel processing technology, announced today that the Company
has completed the repurchase of an additional $17.8 million principal
amount of its outstanding 1.75% convertible subordinated debentures in a
combination of open market and private transactions. The purchase price
ranged from 72 to 78 percent of face value. This follows repurchases of
approximately $27 million of Pixelworks’ outstanding debentures in
February 2009 and approximately $79.4 million in 2008. Pixelworks’ bond
repurchases to date have reduced the Company’s long-term debt from
$140.0 million at the beginning of 2008 to approximately $15.7 million.
About Pixelworks, Inc.
Pixelworks, headquartered in Portland, Oregon, is an innovative
designer, developer and marketer of video and pixel processing
technology, semiconductors and software for high-end digital video
applications. At design centers in Shanghai and San Jose, Pixelworks
engineers push pixel performance to new levels for leading manufacturers
of consumer electronics and professional displays worldwide.
For more information, please visit the Company’s Web site at www.pixelworks.com.
Pixelworks® and the Pixelworks logo® are trademarks of Pixelworks, Inc.
Source: Pixelworks, Inc.
Steven Moore, 408-200-9221