TranSwitch Corporation Announces Proposed Public Offering of Common Stock and Warrants
TranSwitch Corporation (NASDAQ: TXCC) today announced that it is
offering to sell shares of its common stock and warrants to purchase
common stock in an underwritten public offering. Maxim Group LLC is
acting as the sole manager for the offering. TranSwitch intends to use
the net proceeds from the offering for product development, general
corporate purposes and working capital.
The shares and warrants described above are being offered by TranSwitch
pursuant to a registration statement previously filed with and
subsequently declared effective by the Securities and Exchange
Commission (“SEC”). A preliminary prospectus supplement relating to the
offering has been filed with the SEC and is available on the SEC’s
website at http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any
such state or jurisdiction. Copies of the preliminary prospectus
supplement and accompanying base prospectus relating to this offering
may be obtained from Maxim Group LLC 405 Lexington Avenue, New York, NY
10174, (800) 724-0761.
About TranSwitch Corporation
TranSwitch Corporation (TXCC) provides innovative integrated circuit
(IC) and intellectual property (IP) solutions that deliver core
functionality for video, voice, and data communications equipment for
the customer premises and network infrastructure markets. For the
customer-premises market, we offer multi-standard, high-speed
interconnect solutions enabling the distribution and presentation of
high-definition (HD) video and data content for consumer electronics
applications. We also provide a family of best-in-class communications
processors. For the network infrastructure market, we provide integrated
multi-core network processor System-on-a-Chip (SoC) solutions for Fixed,
3G and 4G Mobile, VoIP and Multimedia applications. TranSwitch’s
customers are leading consumer electronics and telecom equipment
companies around the globe. To learn more, please visit www.transwitch.com.
TranSwitch Forward Looking Statements
This press release contains “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995
regarding the proposed public offering and the intended use of proceeds
from the offering. The offering is subject to market and other
conditions and there can be no assurance as to whether or when the
offering may be completed or as to the actual size or terms of the
offering. These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially,
including market conditions, risks associated with the cash requirements
of our business and other risks detailed from time to time in our
filings with the Securities and Exchange Commission, and represent our
views only as of the date they are made and should not be relied upon as
representing our views as of any subsequent date. We do not assume any
obligation to update any forward-looking statements.
TranSwitch is a registered trademark of TranSwitch Corporation.
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