[April 08, 2013] TranSwitch Closes Common Stock and Warrant Offering and Over-Allotment Option Tweet Apr 08, 2013 (Close-Up Media via COMTEX) -- TranSwitch Corp. announced the completion of its previously announced public offering of 8,300,000 units, consisting of one share of common stock and a warrant to purchase 0.50 of a share of common stock, including 1,245,000 units pursuant to the exercise in full of the over-allotment option granted to the underwriter. According to the company, after the underwriting discount and estimated offering expenses payable by the company, the company received net proceeds of approximately $3.7 million. Maxim Group acted as sole manager for the offering. In addition, on March 27, the company delivered a notice to Aspire Capital Fund, terminating the Common Stock Purchase Agreement between the company and Aspire (the "Common Stock Purchase Agreement"). During the first quarter of 2013, the company received proceeds of approximately $1 million from sales of 1,250,000 shares of its common stock to Aspire, pursuant to the Common Stock Purchase Agreement. Year-to-date the company has raised a total of approximately $4.7 million through sales of its common stock. TranSwitch Corp. (TXCC) provides integrated circuit (IC) and intellectual property (IP) solutions that deliver core functionality for video, voice, and data communications equipment for the customer premises and network infrastructure markets. More Information: http://www.transwitch.com ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]