Offering, with a $1.23 million greenshoe, finances corporate purposes
By Devika Patel
Knoxville, Tenn., May 27 - Pixelworks, Inc. said it sold $9.4 million of common stock in a public offering. The deal priced on May 6 for $8.18 million with a $1.23 million over-allotment option, which was fully exercised.
The company sold 4,197,500 common shares at $2.24 apiece. Of the shares, 547,500 were part of the fully exercised greenshoe. The price per share is identical to the May 5 closing share price.
Roth Capital Partners, LLC was the underwriter.
Proceeds will be used for general corporate purposes.
Pixelworks provides video and pixel processing technology for manufacturers of digital projectors and flat-panel display products. The company is located in San Jose, Calif.
| Issuer: | Pixelworks, Inc.
|
| Issue: | Common shares
|
| Amount: | $9,402,400 (including $1,226,400 greenshoe)
|
| Shares: | 4,197,500
|
| Price: | $2.24
|
| Warrants: | No
|
| Agent: | Roth Capital Partners, LLC
|
| Pricing date: | May 6
|
| Settlement date: | May 27
|
| Stock symbol: | Nasdaq: PXLW
|
| Stock price: | $2.24 at close May 5
|
| Market capitalization: | $34.09 million
|
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