Pixelworks Faces Delisting Concerns
Ticker: PXLW · Form: 8-K · Filed: Sep 13, 2024 · CIK: 1040161
| Field | Detail |
|---|---|
| Company | Pixelworks, Inc (PXLW) |
| Form Type | 8-K |
| Filed Date | Sep 13, 2024 |
| Risk Level | high |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $1.00 |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-standards, regulatory
Related Tickers: PXW
TL;DR
PXW might get kicked off the exchange, need to watch this.
AI Summary
Pixelworks, Inc. filed an 8-K on September 13, 2024, to report a notice of delisting or failure to satisfy a continued listing rule or standard. The filing indicates a potential transfer of listing, though specific details regarding the rule violation or the new listing venue are not provided in this excerpt.
Why It Matters
This filing signals potential issues with Pixelworks' continued listing on its current exchange, which could impact investor confidence and stock liquidity.
Risk Assessment
Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's stock trading status and investor confidence.
Key Numbers
- 000-30269 — Commission File Number (Identifies the company's SEC filing history)
- 91-1761992 — I.R.S. Employer Identification No. (Company's tax identification number)
Key Players & Entities
- Pixelworks, Inc. (company) — Registrant
- September 11, 2024 (date) — Earliest event reported
- September 13, 2024 (date) — Filing date
- Oregon (location) — State of incorporation
- Portland, OR (location) — Principal executive offices
FAQ
What specific listing rule or standard has Pixelworks, Inc. failed to satisfy?
The provided excerpt does not specify the exact listing rule or standard that Pixelworks, Inc. has failed to satisfy.
What is the reason for the potential transfer of listing mentioned in the filing?
The filing indicates a notice of delisting or failure to satisfy a continued listing rule or standard, which may lead to a transfer of listing, but the specific reasons for the transfer are not detailed.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on September 11, 2024.
What is Pixelworks, Inc.'s principal executive office address?
Pixelworks, Inc.'s principal executive office is located at 16760 SW Upper Boones Ferry Rd., Suite 101, Portland, OR 97224.
What is the SIC code for Pixelworks, Inc.?
The Standard Industrial Classification (SIC) code for Pixelworks, Inc. is 3674, which corresponds to Semiconductors & Related Devices.
Filing Stats: 576 words · 2 min read · ~2 pages · Grade level 11.5 · Accepted 2024-09-13 16:08:29
Key Financial Figures
- $1.00 — maintain a minimum closing bid price of $1.00 per share for 30 consecutive business d
Filing Documents
- pxlw-20240911.htm (8-K) — 24KB
- 0001040161-24-000037.txt ( ) — 144KB
- pxlw-20240911.xsd (EX-101.SCH) — 2KB
- pxlw-20240911_lab.xml (EX-101.LAB) — 21KB
- pxlw-20240911_pre.xml (EX-101.PRE) — 12KB
- pxlw-20240911_htm.xml (XML) — 3KB
01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On September 11, 2024, Pixelworks, Inc. (the "Company") received a letter (the "Bid Price Deficiency Notice") from the listing qualifications department staff of The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1) (the "Bid Price Requirement") because the Company's common stock failed to maintain a minimum closing bid price of $1.00 per share for 30 consecutive business days. To regain compliance, the closing bid price of the Company's common stock must be at least $1.00 per share for a minimum of 10 consecutive business days at any time prior to March 10, 2025. In the event that the Company does not regain compliance by March 10, 2025, the Company may be eligible for additional time to reach compliance with the Bid Price Requirement. The Bid Price Deficiency Notice has no immediate effect on the listing or trading of the Company's common stock on Nasdaq, and the Company's common stock continues to trade on the Nasdaq Global Market under the symbol "PXLW." The Company intends to actively monitor the bid price for its common stock between now and March 10, 2025 (or any extension thereof), and may, if appropriate, consider available options to resolve the deficiency and regain compliance with the Bid Price Requirement. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PIXELWORKS, INC. (Registrant) Dated: September 13, 2024 /s/ Haley F. Aman Haley F. Aman Chief Financial Officer