TranSwitch Corporation Repurchases $15 Million in Convertible Notes

SHELTON, CT — January 07, 2009 — TranSwitch Corporation (NASDAQ: TXCC), a leading provider of semiconductor solutions for the converging voice, data and video network, today announced that on December 24, 2008 it purchased $15 million principal amount of its 5.45% Convertible Notes for $9.9 million, plus accrued interest. Prior to this transaction TranSwitch had approximately $25 million principal amount of outstanding 5.45% Convertible Notes that were issued in July 2007 and due September 30, 2010.

“TranSwitch was very active in the fourth quarter as we completed the acquisition of Centillium Communications and we took steps to lower the combined company’s operating expense levels to ensure near-term profitability,” stated Dr. Santanu Das, President and CEO of TranSwitch Corporation. “With this Convertible Note repurchase, we have strengthened the company’s balance sheet as we exit this year, and we will continue to consider such opportunistic steps as we build a stronger company for the future.”

After the transaction, TranSwitch will have approximately $10.0 million in principal amount of its Convertible Notes remaining on its balance sheet. The Company expects to record a $4.5 million gain from the transaction in the fourth quarter of 2008. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities.



Contact:

Robert A. Bosi
Chief Financial Officer
Phone: 203.929.8810 ext. 2465




Review Article Be the first to review this article
Featured Video
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
Job Openings: Can EDA Predict the Future
More Editorial  
Jobs
Technical Support Engineer for EDA Careers at Freemont, CA
ASIC Design Engineer for Ambarella at Santa Clara, CA
Engr, Elec Des 2 for KLA-Tencor at Milpitas, CA
Timing Design Engineer(Job Number: 17001757) for Global Foundaries at Santa Clara, CA
Senior FPGA Designer for Fidus Electronic Product Development at Fremont, CA
Upcoming Events
CDNLive Silicon Valley 2017 at Santa Clara Convention Center Santa Clara CA - Apr 11 - 12, 2017
10th Anniversary of Cyber-Physical Systems Week at Pittsburgh, PA, USA PA - Apr 18 - 21, 2017
DVCon 2017 China, April 19, 2017, Parkyard Hotel Shanghai, China at Parkyard Hotel Shanghai Shanghai China - Apr 19, 2017
Zuken Innovation World 2017 at Hilton Head Marriott Resort & Spa Hilton Head Island NC - Apr 24 - 26, 2017
S2C: FPGA Base prototyping- Download white paper



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy