Transmeta Corp. falls, offers shares to investors
Transmeta Corp. (Nasdaq: TMTA) is offering to sell $12.8 million worth of securities to institutional investors, the developer of microprocessor and semiconductor technologies announced before the start of trading.
The securities offered include up to two million shares of common stock and warrants to purchase up to one million shares of Transmeta common stock, the Santa Clara, Calif.-based company said. The offering is scheduled to close on or about Sept. 26.
Transmeta said that it plans to use the proceeds to boost its working capital and pay for operations.
At 1:41 p.m. ET, shares of Transmeta (TMTA) were down $1.35, or 18%, to $6.20.
