PXLW - Pixelworks unit to receive investments in exchange for equity interest
- Pixelworks ( NASDAQ: PXLW ) said its unit Pixelworks Semiconductor Technology (Shanghai) will receive investments from a China-based group of private equity and strategic investors as well as with entities owned by PWSH employees in exchange for equity interest.
- The capital increase agreements consist of commitments by employee entities to pay amounts equal to ~$1.4M in exchange for total equity interest of 0.54% in PWSH.
- It also includes commitments by by non-employee investors to pay amounts equaling ~$14.3M in exchange for total equity interest of 2.76% in PWSH.
- Post the closing of the transactions, Pixelworks will continue to hold ~78.2% equity interest in PWSH.
- Additionally, Q4 revenue guidance of between $16M and $18M was reaffirmed.
- Source: Press Release
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Pixelworks unit to receive investments in exchange for equity interest