By Sheri Kasprzak
New York, July 9 - Transmeta Corp. sealed a $7.5 million private placement of series B convertible preferred stock.
The company sold 1 million series B preferreds at $7.50 each to Advanced Micro Devices, Inc.
The preferreds are convertible into 14,269,400 common shares.
Each preferred pays $0.60 per year in dividends.
Based in Santa Clara, Calif., Transmeta develops microprocessor and semiconductor technologies.
| Issuer: | Transmeta Corp.
|
| Issue: | Series B convertible preferred stock
|
| Amount: | $7.5 million
|
| Shares: | 1 million
|
| Price: | $7.50
|
| Dividends: | $0.60 per share annually
|
| Conversion ratio: | Into 14,269,400 common shares
|
| Warrants: | No
|
| Investor: | Advanced Micro Devices, Inc.
|
| Settlement date: | July 2
|
| Stock symbol: | Nasdaq: TMTA
|
| Stock price: | $0.78 at close July 2
|
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