XML 34 R23.htm IDEA: XBRL DOCUMENT
v3.25.3

Subsequent Events | 9 Months Ended
--- | ---
Sep. 30, 2025
Subsequent Events [Abstract] |
Subsequent Events | SUBSEQUENT EVENTS On October 6, 2025, the Company entered into a common stock purchase agreement with two purchasers pursuant to which the Company agreed to issue and sell, in a registered direct offering, an aggregate of 666,667 shares of the Company’s common stock at a purchase price of $10.50 per share, resulting in net proceeds of approximately $6,500. On October 15 2025, the Company, PWSH, Pixelworks LLC, and each Selling Shareholder, entered into the Purchase Agreement with the Buyer, pursuant to which each of the Company, Pixelworks LLC, and each Selling Shareholder agreed to the Sale. The purchase price is calculated based on an equity value of 100% of PWSH of RMB 950,000 (approximately $133,000 USD as of September 30, 2025). The Sale may be deemed to represent the sale of substantially all of the assets of the Company, and therefore is being submitted to a vote of the Company’s shareholders; the affirmative vote of the holders of at least 67% of the outstanding shares of the Company’s common stock is required for approval. The Company has disseminated to its shareholders a proxy statement with respect to a special meeting of shareholders to approve the Sale. Assuming all closing conditions are met in a timely manner, the Company expects the closing of the Sale to take place by December 31, 2025. In connection with the execution of the Purchase Agreement, on October 14, 2025, Pixelworks LLC entered the Support Agreements and the Company, Pixelworks LLC, and PWSH entered into the Release Agreements with the Minority Shareholders, pursuant to which each Minority Shareholder has agreed to release the Company and its affiliates from all repurchase rights and preferences held by the Minority Shareholder in exchange for the transfer of a portion of the shares of PWSH held by Pixelworks LLC immediately prior to the closing of the Sale. See "Note 13: Redeemable Non-Controlling Interest and Equity Interest of PWSH Sold to Employees" and "Note 14: Non-Controlling Interest" for further information about these various repurchase rights and preferences. Net of the shares of PWSH transferred under the Support Agreements with the Minority Shareholders, transaction costs, and withholding taxes in China, the Company expects to receive cash in the range of approximately $50,000 to $60,000 upon closing of the Sale. On October 22, 2025, the Company entered into an agreement with an unrelated third party, pursuant to which we sold 37 patents and related rights and materials for $3,000. The technologies underlying the patents pertain to markets that the Company no longer pursues. The Company expects to record a gain of approximately $3,000 from the sale in the fourth quarter of 2025.

X
- References No definition available. + Details
Name: | us-gaap_SubsequentEventsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration