Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

November 22, 2013

TranSwitch files for Ch. 7 bankruptcy

HBJ PHOTO/KEITH GRIFFIN Amir Bar-Niv, senior vice president and general manager of TranSwitch Co. shows off the firm's wares during the Consumer Electronics Show in Las Vegas.

Unable to raise enough money to cover its financing and other liabilities, Shelton semiconductor maker TranSwitch Corp. filed for Ch. 7 bankruptcy Thursday.

The company has liabilities of $17.2 million, while it values its property, equipment, patents and other assets at $3.5 million, according to its filing in U.S. Bankruptcy Court in Bridgeport.

The company lost nearly $46 million between 2010 and 2012.

TranSwitch warned investors in March that it would not make it through year end without a capital infusion. Although it raised $3.7 million through a stock offering in April, and also modified its loan with Bridge Bank, it wasn’t enough.

DOWNLOAD PDFs

Read the bankruptcy filing

Sign up for Enews

Most Recent

Most Recent

Related Content

TranSwitch pulls Nasdaq listing
Transwitch revenue down 39%
TranSwitch raising $3.7M in needed capital

0 Comments

Order a PDF