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Pixelworks to Reconvene Special Meeting of Shareholders on December 31, 2025
Pixelworks, Inc. (NASDAQ: PXLW) ("Pixelworks" or the "Company"), a leading provider of innovative video and display processing solutions, today announced that its Special Meeting of Stockholders (the "Special Meeting"), which was originally convened on November 26, 2025, reconvened and adjourned on December 8, 2025, and then reconvened on December 19, 2025, has been adjourned until December 31, 2025, at 9:00 a.m. pacific time to give shareholders additional time to vote on Proposal 1. Proposal 1
About this update from Pixelworks, Inc.
[{"type":"text","content":"PORTLAND, Ore., Dec. 19, 2025 /PRNewswire/ -- Pixelworks, Inc. (NASDAQ: PXLW) ("Pixelworks" or the "Company"), a leading provider of innovative video and display processing solutions, today announced that its Special Meeting of Stockholders (the "Special Meeting"), which was originally convened on November 26, 2025, reconvened and adjourned on December 8, 2025, and then reconvened on December 19, 2025, has been adjourned until December 31, 2025, at 9:00 a.m. pacific time to give shareholders additional time to vote on Proposal 1. Proposal 1 would authorize the sale of all the shares of the Company's subsidiary, Pixelworks Semiconductor Technology (Shanghai) ("Pixelworks Shanghai"), held indirectly by the Company (the "Sale"). Although Proposal 1 has received significant support based on the proxies that have been received by December 19, 2025, the approval by holders of at least 67% of the outstanding shares of common stock on the record date for the Special Meeting has not yet been received.","length":1066,"tagName":"p"},{"type":"text","content":"When the Special Meeting was reconvened on December 19, 2025, approximately 98% of the proxies that have been received had been voted in favor of Proposal 1, but represented only approximately 61% of the shares of common stock outstanding on the record date for the Special Meeting. The Board of Directors continues to believe that the approval of Proposal 1 is in the best interests of the Company and its shareholders, and the Board of Directors and both leading independent proxy voting advisory groups, Institutional Shareholder Services and Glass Lewis, recommended that shareholders vote FOR Proposal 1. Proposal 1 is described in more detail in the proxy statement filed by the Company with the Securities and Exchange Commission on October 27, 2025 (the "Special Meeting Proxy Statement"), as supplemented by additional definitive proxy materials filed by the Company on November 4, November 11, and December 8, 2025.","length":935,"tagName":"p"},{"type":"text","content":"As described in more detail in the Special Meeting Proxy Statement, under the terms of the purchase agreement pursuant to which the Sale will be consummated (the "Purchase Agreement"), either party has the right to terminate the Purchase Agreemen...