Pixelworks sells 2.73% stake in PWSH subsidiary for ~$12.9M, valuing at $471.5M

PIXELWORKS, INC

Sold 2.73% equity in PWSH to Hainan Qixin and Suzhou Saixiang for ~$12.9M, valuing PWSH at $471.5M.
Closing expected September 2022; Pixelworks to retain 80.87% ownership of PWSH.
Valuation represents ~2x increase vs. August 2021 investment round for PWSH.
Net proceeds to Pixelworks estimated at ~$11.3M; proceeds not earmarked for specific use.

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