NVM OTP in UMC (180nm, 153nm, 110nm, 90nm, 80nm, 55nm, 40nm, 28nm, 22nm)
TranSwitch Corporation Repurchases $15 Million in Convertible Notes
“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.
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