Pixelworks buys $17.8 million in 1.75% convertible subordinated debentures at a discount

By Devika Patel

Knoxville, Tenn., May 13 - Pixelworks, Inc. said it repurchased an additional $17.8 million of its 1.75% convertible subordinated debentures at purchase prices ranging from 72 to 78.

The company repurchased approximately $79.4 million of the debentures in 2008 and approximately $27 million of the notes in February.

Pixelworks' bond repurchases to date have reduced its long-term debt to approximately $15.7 million from $140 million at the beginning of 2008.

Pixelworks provides video and pixel processing technology for manufacturers of digital projectors and flat-panel display products. The company is located in Tualatin, Ore.

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