Deal with $1.38 million greenshoe will be conducted by Roth Capital
By Devika Patel
Knoxville, Tenn., Aug. 16 - Pixelworks, Inc. priced a $9.21 million public sale of stock with a $1.38 million greenshoe in a free writing prospectus filed Friday with the Securities and Exchange Commission. The deal was announced Thursday.
The company will sell 2.63 million common shares at $3.50 apiece. The price per share is a 17.65% discount to the Aug. 15 closing share price of $4.25.
Roth Capital Partners, LLC is the manager.
Settlement is expected Aug. 21.
Proceeds will be used for general corporate purposes, including working capital, operating expenses and overhead and capital expenditures.
Pixelworks provides video and pixel processing technology for manufacturers of digital projectors and flat-panel display products. The company is located in Tualatin, Ore.
| Issuer: | Pixelworks, Inc.
|
| Issue: | Common shares
|
| Amount: | $9,205,000
|
| Greenshoe: | $1,380,750
|
| Shares: | 2.63 million
|
| Price: | $3.50
|
| Warrants: | No
|
| Manager: | Roth Capital Partners, LLC
|
| Announcement date: | Aug. 15
|
| Pricing date: | Aug. 16
|
| Settlement date: | Aug. 21
|
| Stock symbol: | Nasdaq: PXLW
|
| Stock price: | $4.25 at close Aug. 15
|
| Market capitalization: | $74.05 million
|
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