Pixelworks repurchases $27 million of its 1.75% convertibles at 65.5

By Devika Patel

Knoxville, Tenn., Feb. 23 - Pixelworks, Inc. said it bought back about $27 million of its outstanding 1.75% convertible subordinated debentures at 65.5.

The company said it also repurchased approximately $79.4 million of the debentures in 2008.

Pixelworks' bond repurchases to date have reduced its long-term debt to about $33.5 million from $140 million at the beginning of 2008.

Pixelworks provides video and pixel processing technology for manufacturers of digital projectors and flat-panel display products. The company is located in Tualatin, Ore.

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