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's initial public offering of 13 million shares was priced at $21 each, above the already increased range.

The semiconductor maker had already raised the price range to $16 to $18 from $11 to $13. The pricing would indicate proceeds of $273 million.

Transmeta designs chips for laptops and other mobile devices such as e-books, handheld computers and cell phones. Its flagship product is the Crusoe processor, which uses a software-based technology called "code morphing" that consumes less power and promises to prolong the battery life of a device.

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