Company sells 3,024,500 shares at $3.50 apiece through Roth Capital
By Devika Patel
Knoxville, Tenn., Aug. 21 - Pixelworks, Inc. said the underwriters for its public offering of stock opted to exercise the deal's $1.38 million greenshoe in full for total proceeds of $10.59 million. The deal was announced Aug. 15 and priced for $9.21 million with the greenshoe on Aug. 16.
The company sold 3,024,500 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. Of the shares, 394,500 were part of the fully exercised greenshoe.
Roth Capital Partners, LLC was the manager.
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: | $10,585,750 (including $1,380,750 greenshoe)
|
| Shares: | 3,024,500
|
| 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: | $76.47 million
|
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