PIXELWORKS, INC. (NASDAQ:PXLW) Files An 8-K Entry into a Material Definitive Agreement

PIXELWORKS, INC. (NASDAQ:PXLW) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.Entry into a Material Definitive Agreement

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On December 18, 2018, Pixelworks, Inc. (the “Company”) and Silicon Valley Bank entered into Amendment No. 7 (the “Amendment”) to the Loan and Security Agreement (the “Loan Agreement”), dated December 21, 2010, previously entered into by the parties (filed as Exhibit 10.26 to Pixelworks, Inc’s Annual Report on Form 10-K filed March 7, 2011). The Amendment changes the maturity date of the revolving line of credit provided to the Loan Agreement to December 27, 2019. The maturity date was previously December 28, 2018, as provided by Amendment No. 6 to the Loan Agreement (filed as Exhibit 10.1 to our Current Report on Form 8-K, filed on December 22, 2017).

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which is attached to this report as Exhibit 10.1 and is incorporated herein by reference.

Item 2.03.Creation of Direct Financial Obligation

The information disclosed under Item 1.01 of this Form 8-K is incorporated herein by reference.

Item 9.01Financial Statements and Exhibits.

EX-10.1 2 ex101december2018.htm AMENDMENT Exhibit Exhibit 10.1SEVENTH AmendmenttoLoan and security agreementThis Seventh Amendment to Loan and Security Agreement (this “Amendment”) is entered into December 18,…
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Pixelworks, Inc. designs, develops and markets video and pixel processing semiconductors, intellectual property cores, software and custom application specific integrated circuit (ASIC) solutions for digital video applications. The Company is engaged in the design and development of integrated circuits (ICs) for use in electronic display devices. It provides its customers with software development tools and with software that provides basic functionality for its ICs and enables connectivity of its customers’ products. Its primary target markets include digital projection systems, Ultrabook devices, tablets and smartphones. Its video display processing technologies include Halo Free Motion Estimation and Motion Compensation (MEMC), Advanced Scaling, Mobile Video Display Processing, and Vuemagic and Networked Displays. Its primary video display processor product categories include ImageProcessor ICs, Video Co-Processor ICs and Networked Display ICs.

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