Brief: Pixelworks - Entered Agreement With A Customer To Defray Portion Of Research And Development Expenses Expected To Be Incurred In Connection With Development Of A Product

Pixelworks

28/07/2021 22:20

July 28 (Reuters) - Pixelworks Inc  PXLW.O :
    * PIXELWORKS - ENTERED AGREEMENT WITH A CUSTOMER TO DEFRAY
PORTION
OF RESEARCH AND DEVELOPMENT EXPENSES EXPECTED TO BE INCURRED IN
CONNECTION WITH DEVELOPMENT OF A PRODUCT
    * PIXELWORKS INC - WILL RECEIVE $5.8 MILLION FROM CUSTOMER
WITHIN
60 DAYS OF DATE OF AGREEMENT, AND MAY RECEIVE UP TO AN
ADDITIONAL $4.8 MILLION
    * PIXELWORKS INC - EXPECTS ITS RESEARCH AND DEVELOPMENT
EXPENSES
WILL EXCEED AMOUNTS RECEIVED FROM CUSTOMER

Source text for Eikon: [https://bit.ly/3icsvKl]
Further company coverage:  PXLW.O 

 ((Reuters.Briefs@thomsonreuters.com;))