Hi Michael,
I had missed this bit of news on TXCC.
They just made it harder on themselves to raise additional
capital. I am surprised they decided not do a reverse split
to defense their listing.
The move down is not quite the pink sheets, but it is not
that much better either.
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Press Release Source: TranSwitch Corporation
TranSwitch Corporation Transfers to The NASDAQ SmallCap Market
Friday October 11, 4:16 pm ET
SHELTON, Conn.--(BUSINESS WIRE)--Oct. 11, 2002--TranSwitch Corporation (NASDAQ:TXCC - News) a leading developer and global supplier of innovative high-speed VLSI semiconductor solutions, announced today that The NASDAQ Stock Market® has approved its request to transfer its common stock to The NASDAQ SmallCap Market(SM) effective at the opening of trading on October 14, 2002.
The Company's common stock will continue trading under the symbol "TXCC". Investors and other interested parties will see no difference in how they obtain stock price quotes, execute trades or find news about the Company, following the transfer to The NASDAQ SmallCap Market.
About TranSwitch Corporation:
TranSwitch Corporation, headquartered in Shelton, Connecticut, is a leading developer and global supplier of innovative high-speed VLSI semiconductor solutions - Connectivity Engines(TM)- to original equipment manufacturers who serve three end-markets: the Worldwide Public Network Infrastructure, the Internet Infrastructure, and corporate Wide Area Networks (WANs). Combining its in-depth understanding of applicable global communication standards and its world-class expertise in semiconductor design, TranSwitch Corporation implements communications standards in VLSI solutions which deliver high levels of performance. Committed to providing high-quality products and service, TranSwitch is ISO 9001 registered. Detailed information on TranSwitch products, news announcements, seminars, service and support is available on TranSwitch's home page at the World Wide Web site - transwitch.com.
Forward-looking statements, including statements regarding future stock price performance and liquidity, in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including without limitation, risks acquiring new businesses, risks in technology development and commercialization, risks in product development and market acceptance of and demand for the Company's products, risks associated with competition and competitive pricing pressures; risks of downturns in economic conditions generally, and in the telecommunications and data communications markets and the semiconductor industry specifically, risks associated with foreign sales and with high customer concentration, risks of dependence on third-party VLSI fabrication facilities, risks associated with intellectual property rights and litigation, and other risks detailed in the Company's filings with the Securities and Exchange Commission.
TranSwitch is a trademark of TranSwitch Corporation.
NASDAQ® and The NASDAQ Stock Market® are registered service/trademarks of The Nasdaq Stock Market, Inc.
The NASDAQ SmallCap Market(SM) and the logos identifying NASDAQ indexes and products are service/trademarks of The Nasdaq Stock Market, Inc.
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Contact:
TranSwitch Corporation
Peter J. Tallian, 203/929-8810 ext. 2427
Fax: 203/926-9453
www.transwitch.com |
