Transmeta to sell $12.8M shares
Transmeta Corp. (Nasdaq: TMTA), a developer and licenser of computing, microprocessor and semiconductor technologies, this morning announced that it will sell securities to selected institutional investors for an aggregate price of $12.8 million.
The securities in the offering include up to two million shares of Transmeta common stock and warrants to purchase up to one million shares of Transmeta common stock, which securities are being offered in ‘units’ at a price of $6.40 per unit.
Transmeta said it intends to use the net proceeds from the offering to meet its working capital requirements and fund its operations.
The offering is expected to close on or about Sept. 26, 2007.
Shares of Transmeta (TMTA) were at $7.55 just out of the gate.
