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TranSwitch plummets after announcing voluntary Nasdaq delisting

  • TranSwitch (TXCC -30.9%) plummets after the company announced it will voluntarily delist from the Nasdaq.
  • The company's decision was partly based on its continued non-compliance with the Nasdaq's minimum closing bid and equity requirements.
  • TranSwitch plans to file notice with the SEC on Aug. 30. Then, in approximately 10 days, the stock will be delisted.
  • The company aims to list on the OTC markets and continue reporting with the SEC.
  • Previous: TranSwitch misses by $0.02, misses on revenues
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