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Transmeta Corporation Files Shelf Registration Statement
SANTA CLARA, Calif.--(BUSINESS WIRE)--July 17, 2003--Transmeta Corporation (Nasdaq:TMTA), the leader in efficient computing, announced today that it has filed a shelf registration statement with the Securities and Exchange Commission. The shelf registration statement gives Transmeta the flexibility to facilitate the sale of securities when market conditions are favorable or financing needs arise. The shelf registration positions Transmeta for the possible future offer and sale of up to $100,000,000 of its common stock, preferred stock, secured or unsecured debt securities and warrants, from time to time.
UPDATE - NEC Elec takes Transmeta stake, to use its technology
Thursday March 25, 9:46 am ET
(Adds Transmeta share price rise)
TOKYO, March 25 (Reuters) - Japanese chip maker NEC Electronics Corp. (Tokyo:6723.T - News) said on Thursday it licensed Transmeta Corp.'s (NasdaqNM:TMTA - News) power leakage management technology and cemented the alliance by taking a small stake in the U.S. firm.
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NEC Electronics, owned 70 percent by electronics conglomerate NEC Corp. (Tokyo:6701.T - News), said it had acquired less than 2 percent of Transmeta's outstanding shares as part of the U.S. chipmaker's 25 million common stock offering late last year. Transmeta shares rose 9 percent in early Nasdaq trading.
"NEC Electronics is known to be a leader in low power. Transmeta is a leader in low power. The two companies combine to form a strong strategic relationship," Transmeta Chief Executive Matthew Perry told reporters in Tokyo.
NEC Electronics plans to use Transmeta's LongRun2 technology, which helps to reduce power consumption and transistor leakage, in its future semiconductor products processed at 90-, 65- and 45-nanometres. A nanometre is one-billionth of a metre.
Narrower circuitry allows chips to be more powerful and smaller, but those devices are more susceptible to power leakage.
NEC Electronics Executive Vice President Hirokazu Hashimoto said Transmeta's technology could, in theory, cut power consumption to one-sixth of the current level.
The company plans to ship the first chips using LongRun2 technology in 2005. They are expected to be used initially in mobile phone handsets.
Transmeta said in October it had selected Fujitsu Ltd (Tokyo:6702.T - News), another major Japanese chip maker, as the first foundry for the next generation of its new low-power processors.
Its Efficeon processors with circuitry based on 90-nanometre technology will be manufactured by Fujitsu and available in volume production in the second half of 2004.
On the sidelines of Thursday's news conference, NEC Electronics Senior Vice President JJ Yamaguchi said his company was technologically capable of manufacturing Efficeon chips and willing to produce them if asked by Transmeta.
Shares in NEC Electronics closed up 4.37 percent at 7,410 yen on Thursday, compared to a 1.46 percent rise in the Nikkei 225 average (^N225 - News). Transmeta shares rose 34 cents to $3.93 in early Nasdaq trading.
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