Attached files
file | filename |
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8-K - TRANSWITCH CORP /DE | v186068_8k.htm |
EX-4.1 - TRANSWITCH CORP /DE | v186068_ex4-1.htm |
EX-3.1 - TRANSWITCH CORP /DE | v186068_ex3-1.htm |
EX-4.2 - TRANSWITCH CORP /DE | v186068_ex4-2.htm |
Exhibit
99.1
News
Release
TranSwitch
Corporation Announces
Extension
of Rights Offering
SHELTON, CT – May 20, 2010 –TranSwitch®
Corporation (NASDAQ: TXCC) a leading provider of semiconductor solutions for the
converging voice, data and video network, today announced the extension of its
pending rights offering to 5:00 pm, Eastern time, on May 28, 2010, to allow the
Company’s shareholders additional time to participate in the rights offering in
view of recent information disclosed by the Company. The rights offering was
originally scheduled to expire on May 24, 2010. All of TranSwitch’s
directors have committed to participate in the rights offering.
The
issuer has filed a registration statement (including a prospectus) with the SEC
for the offering to which this communication relates. Before you
invest, you should read the prospectus in that registration statement and other
documents the issuer has filed with the SEC for more complete information about
the issuer and this offering. If you have any questions regarding the
rights offering, please contact Georgeson, Inc., the information agent for the
rights offering at (888) 867-6856 (toll-free) or, for banks and brokers, at
(212) 440-9800 (call collect). Copies of a prospectus with
respect to this offering may be obtained from the information agent or from
TranSwitch Corporation, Three Enterprise Drive, Shelton, CT 06483, Attn. Robert
Bosi, Vice President-Chief Financial Officer.
The
rights offering will be made only by means of a prospectus. This
release shall not constitute an offer to sell or a solicitation of an offer to
buy nor shall there be any sales of these securities in any state in which such
an offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state.
About
TranSwitch Corporation
TranSwitch
Corporation designs, develops and markets innovative semiconductors that provide
core functionality and complete solutions for voice, data and video
communications network equipment. As a leading supplier to telecom, datacom,
cable television and wireless markets, TranSwitch customers include the major
OEMs that serve the worldwide public network, the Internet, and corporate Wide
Area Networks (WANs). TranSwitch devices are inherently flexible, with many
incorporating embedded programmable microcontrollers to rapidly meet customers’
new requirements or evolving network standards by modifying a function via
software instruction. TranSwitch implements global communications standards in
its VLSI solutions and is committed to providing high-quality products and
services. TranSwitch, Shelton, CT, is an ISO 9001:2000 registered company. For
more information, visit www.transwitch.com.
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Forward-looking
statements in this release, including statements regarding management's
expectations for future financial results and the markets for TranSwitch's
products, are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Investors are cautioned that these
forward-looking statements regarding TranSwitch, its operations and its
financial results, involve risks and uncertainties that could cause actual
results to differ materially from those contained in the forward-looking
statements, including without limitation the risks associated with acquiring new
businesses; the risk of downturns in economic conditions generally and in the
telecommunications and data communications markets and the semiconductor
industry specifically; risks in product development and market acceptance of and
demand for TranSwitch's products and products developed by TranSwitch's
customers; risks relating to TranSwitch's indebtedness; risks of failing to
attract and retain key managerial and technical personnel; risks associated with
foreign sales and high customer concentration; risks associated with competition
and competitive pricing pressures; risks associated with investing in new
businesses; risks of dependence on third-party VLSI fabrication facilities;
risks related to intellectual property rights and litigation; risks in
technology development and commercialization; and other risks detailed in
TranSwitch's filings with the Securities and Exchange
Commission.
TranSwitch
expressly disclaims any obligation or undertaking to release publicly any
updates or revisions to any such statements to reflect any change in
expectations or any change in events, conditions or circumstances on which any
such statement is based.
TranSwitch
is a registered trademark of TranSwitch Corporation.
For More
Information Contact:
Robert A.
Bosi
Vice
President and Chief Financial Officer
Phone:
203.929.8810 ext. 2465
Ted
Chung
Vice
President, Business Development
TranSwitch
Corporation
Phone:
203.929.8810 ext. 2004