Pixelworks board directs sale of Shanghai subsidiary; close expected early Jan 2026

PIXELWORKS, INC

Board determined sale of PWSH does not require shareholder approval; will not seek additional proxies.
Sale to Tiansui Xinyuan Technology (Shanghai) expected early Jan 2026.
Proxies received before Dec 19: 61% of total shares voted in favor, 98% of proxies received.
Cites PWSH capital needs difficult to raise; TrueCut licensing model requires less capital.
Sale resolves repurchase rights of other PWSH shareholders, a growing financial obligation.

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