Transmeta Announces $12.8 Million Securities Offering
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Transmeta Corporation (NASDAQ: TMTA) today announced an offering to sell
securities to selected institutional investors for an aggregate price of
$12,800,000. The offering is made pursuant to the Form S-3 shelf
registration statement that was filed by Transmeta with the Securities
and Exchange Commission (the "SEC”)
and declared effective by the SEC on July 20, 2007. The offering is
expected to close on or about September 26, 2007, subject to the
satisfaction of customary closing conditions. Transmeta intends to use
the net proceeds from the offering to meet its working capital
requirements and fund its operations.
The securities in the offering include up to 2,000,000 shares of
Transmeta common stock and warrants to purchase up to 1,000,000 shares
of Transmeta common stock, which securities are being offered in "units”
at a price of $6.40 per unit. Each unit consists of one share of
Transmeta common stock and a warrant to purchase 0.5 shares of Transmeta
common stock at an exercise price of $9.00 per share for each share of
common stock that the investor purchases in the offering.
A.G. Edwards & Sons, Inc. acted as exclusive placement agent for the
offering.
The registration statement relating to these securities was filed with
and has been declared effective by the Securities and Exchange
Commission. This press release shall not constitute an offer to sell or
the solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful. Any offer will be made only by means of a
prospectus, including a prospectus supplement, forming a part of the
effective registration statement. Copies of the prospectus supplement
together with the accompanying prospectus can be obtained at the
Securities and Exchange Commission’s website
at http://www.sec.gov or from A.G.
Edwards & Sons, Inc. at One North Jefferson, Saint Louis, Missouri
63116, (314) 955-3000.
About Transmeta Corporation
Transmeta Corporation develops and licenses innovative computing,
microprocessor and semiconductor technologies and related intellectual
property. Founded in 1995, Transmeta first became known for designing,
developing and selling its highly efficient x86-compatible
software-based microprocessors, which deliver a balance of low power
consumption, high performance, low cost and small size suited for
diverse computing platforms. Transmeta is presently focused on
developing and licensing its advanced power management technologies for
controlling leakage and increasing power efficiency in semiconductor and
computing devices, and in licensing its computing and microprocessor
technologies to other companies. To learn more about Transmeta, visit www.transmeta.com.
Safe Harbor Statement
This release contains forward-looking statements made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Such statements speak only as of the date of this release, and
include statements relating to whether or not Transmeta will consummate
the financing and the anticipated use of proceeds. The Company will not
necessarily provide updates of our projections or other forward-looking
statements. Investors are cautioned that such forward-looking statements
are subject to many risks and uncertainties, and may differ materially
or adversely from our actual results or future events. The
forward-looking statements in this press release involve risks and
uncertainties specific to the nature of the financing, including, but
not limited to, unanticipated changes in the securities market and
competitive conditions. Other important risk factors that could
have material or adverse effects on our results include practical
difficulties in implementing our restructuring plan and modifying our
business model, the potential loss of key technical and business
personnel, uncertainty about the adoption and market acceptance of our
technology offerings by current and potential customers and licensees,
our inability to predict or ensure that third parties will license our
technologies or use our technologies to generate royalties, difficulties
in developing our technologies in a timely and cost effective manner,
the risk that we have difficulties entering into strategic
collaborations or raising financing on satisfactory terms, patents and
other intellectual property rights, and other risk factors. We urge
investors to review our filings with the Securities and Exchange
Commission, including our most recent reports on Forms 10-K, 10-Q, and
8-K, which describe these and other important risk factors that could
have an adverse effect on our results. We undertake no obligation to
revise or update publicly any forward-looking statement for any reason.
