TranSwitch Corporation Extends its Shelf Registration
TranSwitch Corporation (NASDAQ: TXCC), a leading provider of semiconductor solutions for the converging voice, data and video network, today announced that on October 25, 2012, it filed a universal shelf registration statement with the Securities and Exchange Commission (SEC), which if and when declared effective by the SEC, would enable the Company to raise funds through one or more issuances of the securities covered by the shelf registration statement, subject to market conditions and the Company's capital needs. This registration statement replaces the current universal shelf registration statement, which expires on October 28, 2012. This filing should not be deemed as a signal of any change in our capital needs or our capital structure planning.
An offering of securities covered by the shelf registration statement will be made only by means of a written prospectus and prospectus supplement, and the specific terms of any future offering will be subject to prevailing market conditions. The Company may use the net proceeds from the sale of these securities for general corporate purposes, which may include repayment or refinancing of existing indebtedness, acquisitions, investments, capital expenditures, repurchase of its capital stock and for any other purposes that the Company may specify in any prospectus supplement.
The registration statement relating to the securities listed in the shelf registration has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, nor shall there be any sale of the securities mentioned herein in any state or other jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
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