TranSwitch Corporation Announces At-The-Market Issuance Program
TranSwitch Corporation (NASDAQ: TXCC), a leading provider of semiconductor solutions for the converging voice, data and video network, today announced that it has filed a prospectus supplement to sell up to an aggregate of $10,000,000 of its common stock (Shares) through an “at-the-market” (ATM) offering. If utilized, the Shares would be offered through MLV & Co. LLC (MLV) as sales agent. MLV, at TranSwitch’s discretion and instruction, will use its commercially reasonable efforts to sell the Shares at market prices from time to time, including sales made directly on The NASDAQ Capital Market. TranSwitch currently intends to use the proceeds from any sales related to the ATM offering for product development, working capital and other general corporate purposes. TranSwitch’s agreement with MLV automatically terminates upon the earlier to occur of the three-year anniversary of the date hereof, or the issuance and sale of all of the Shares (unless earlier terminated pursuant to the terms thereof).
Sales in the ATM offering, if any, would be made pursuant to the prospectus supplement dated February 10, 2012, which supplements the prospectus dated October 21, 2009, filed as part of the effective shelf registration statement that TranSwitch filed with the Securities and Exchange Commission (SEC) on October 21, 2009.
For more complete information about TranSwitch and the ATM offering, you are encouraged to read the prospectus, the prospectus supplement and other documents TranSwitch has filed with the SEC. You may obtain these documents on the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor may there be any sale of TranSwitch’s common stock in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any state or jurisdiction.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV